A System of Internal Financial Accounting Controls for Inventory Would

question 86

Multiple Choice

A system of internal financial accounting controls for inventory would include all of the following except

• A)authorization for all purchases.
• B)proper accounting for receipt of inventory.
• C)perpetual inventory system.
• D)rapid introduction of new products without market studies.

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Definitions:

Quaternary Ammonium

Ionic compounds containing a central nitrogen atom bonded to four organic groups and one additional anion, known for their disinfectant properties.

Primary Amine

A compound with one (primary) amino group attached to the main carbon chain.

Imine

Organic compounds characterized by a nitrogen atom double-bonded to a carbon atom, with the carbon also attached to a hydrogen or another carbon group.

Amide

A functional group characterized by a carbonyl group (C=O) linked to a nitrogen atom.