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Why Would a Merchandising Company Need Good Internal Controls Related

question 133

Essay

Why would a merchandising company need good internal controls related to its inventory? List three of the key elements of an internal control system that would apply to inventory, and explain how each of them relates to inventory.


Definitions:

Activities

Tasks, events, or actions undertaken by individuals, often for enjoyment, relaxation, or achieving specific goals.

Hartshorne and May

Researchers known for their studies in the field of moral development, particularly for their work in the 1920s on honesty in children.

Research

The systematic investigation into and study of materials, sources, etc., in order to establish facts and reach new conclusions.

Cheat

To act dishonestly or unfairly in order to gain an advantage, especially in a game or examination.

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