Which of the Following Internal Control Procedures Is Most Likely

question 3

Multiple Choice

Which of the following internal control procedures is most likely to be used in order to maintain accurate inventory records?

• A)Perpetual inventory records are periodically compared with the current cost of individual inventory items.
• B)A just-in-time inventory ordering system keeps inventory levels at a desired minimum.
• C)Requisitions,receiving reports,and purchase orders are independently matched before payment is approved.
• D)Periodic inventory counts are used to adjust the perpetual inventory records.

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Definitions:

Randomized Block Design

An experimental design that groups subjects into blocks to account for variability among them and then randomly assigns treatments within those blocks.

ANOVA Table

A table used in analysis of variance that summarizes the sources of variability in the data, including within-group and between-group differences.

Observations

Single observations or metrics gathered throughout a research project or experimentation process.

Levels

Distinct categories or stages that variables in an analysis or experiment can take.