The Internal Control Significance of the Excess Materials Requisition Is

question 86

Multiple Choice

The internal control significance of the excess materials requisition is that it

• A)indicates the amount of material released to work centers
• B)identifies materials used in production that exceed the standard amount allowed
• C)indicates the standard quantities required for production
• D)documents the return to raw materials inventory of unused production materials

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Definitions:

U.S. Government

The federal government of the United States, composed of three distinct branches: legislative, executive, and judicial, as established by the Constitution.

Issues Regulations

Rules and guidelines issued by authorities to control or govern behaviors and operations in various sectors.

Mixed Economy

An economic system that combines elements of capitalism and socialism, including both private and public ownership of resources and enterprises.

Laissez Faire

An ideology that supports a capitalist market economy free from regulatory oversight by the government.