​The Primary Objectives of Control Over Inventory Are

question 164

Multiple Choice

​The primary objectives of control over inventory are

• A) ​safeguarding the inventory from damage and maintaining constant observation of the inventory
• B) ​reporting inventory in the financial statements
• C) ​maintaining constant observation of the inventory and reporting inventory in the financial statements
• D) ​safeguarding inventory from damage and reporting inventory in the financial statements

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Definitions:

Contract Obligations

Duties that parties are legally bound to perform as specified in a contract.

Commercial Law

A branch of law that deals with issues of private law relating to commerce, businesses, and trade, including contracts, sales, and corporate governance.

Business Dealings

Interactions and transactions between companies or individuals in the commercial sector.

Criminal Law

A branch of law dealing with crimes and their punishment.