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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The total amount of tax owed by an individual or entity to the tax authorities.

Married Couple

Two individuals legally married to each other, who may file joint or separate tax returns in the eyes of the law.

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