All of the Following Are Internal Control Procedures That Should

question 81

Multiple Choice

All of the following are internal control procedures that should be in place in the conversion cycle except

• A)calculation and analysis of direct material and direct labor variances
• B)retention of excess materials by work centers
• C)physical count of inventory items on hand
• D)limited access to raw material and finished goods inventories

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Definitions:

Ongoing Relationship

A continuous interaction or connection between individuals or entities that evolves over time.

Discrimination

The unfair or prejudicial treatment of people based on characteristics such as race, age, gender, or disability.

Intolerance

An unwillingness or refusal to accept and respect differing viewpoints, practices, or individuals.

Diversity

The inclusion of individuals from a wide range of cultural, ethnic, and gender backgrounds in a group or organization.