Which of the Following Is Not a Step in a Properly

question 12

Multiple Choice

Which of the following is not a step in a properly conducted stocktake?

• A) Sale of all damaged goods.
• B) Account for all pre-numbered inventory tickets.
• C) Recount some items by a supervisor or auditor.
• D) Attach an inventory ticket to stock items that have been counted.

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Definitions:

Supplier

An entity that provides goods or services to another entity, typically within a supply chain.

Control Account

An account in the general ledger used to summarize the details of a subservient ledger.

Subsidiary Accounts

Detailed records that support and summarize information in a controlling account, often used for individual items or customers.

Cash Refund

An amount paid by the seller to the buyer for merchandise that is defective, is damaged during shipment, or does not meet the buyer’s expectations.