Which control procedure is probably least effective in reducing the threat of inventory loss? a. Limiting physical

Question:

Which control procedure is probably least effective in reducing the threat of inventory loss?

a. Limiting physical access to inventory

b. Documenting all transfers of inventory within the company

c. Regular materials usage reports that highlight variances from standards

d. Periodically counting inventory and investigating any discrepancies between those counts and recorded amounts

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Information Systems

ISBN: 9781292060521

13th Global Edition

Authors: Marshall B. Romney, Paul John Steinbart

See More Books

Question Posted: Dec 25, 2023 01:37 AM

See More Questions

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
Research and analyze potential improvements to the Japanese auto supply chain, as presented in the "Supply Chain Challenges in Post-Earthquake Japan" case study (pages 420422 in your Introduction to...
Car A is due north of Car B. In the Earth frame, Car A is moving south and Car B is moving East. What direction is Car B moving as seen by Car A? north south east west north and east north and west...
Marino's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12'' and 16'' frozen pizzas for April 2010: There are three direct materials used...
Please develop a pro-forma financial statement for Nelson Nurseries using percentage of sales approach for the year 2021. Assume that Roger grows revenues by 30%, and determine the AFN for Nelson...
Hurricanes The histogram shows the distribution of hurricanes that have hit the U.S. mainland by category, with 1 the weakest level and 5 the strongest. (Source: Weather Research Center) Hurricanes...
Nguyen, Inc., is considering the purchase of a new computer system (ICX) for $130,000. The system will require an additional $30,000 for installation. If the new computer is purchased it will replace...
1. Vanderhyde Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During May, the kennel budgeted for 4,300 tenant-days, but...
What is the number of good units produced in a given period of time called? a. Productive capacity b. Productive processing time c. Yield d. Throughput
The development of an MPS would be most effective in preventing which of the following threats? a. Recording and posting errors b. Loss of inventory c. Production of poor-quality goods d. Excess...
Which of the following best describes the objective of estimating bad debt expense with the percentage of credit sales method? a. To estimate bad debt expense based on a percentage of credit sales...
Assume that John wants to annuitize the annuity and is told that he can receive a straight life annuity for $600 a month for life. If the actuarial number of payments is 300, how much of the first...
An epidemiologist plans to conduct a survey to estimate the percentage of women who give birth. How many women must be surveyed in order to be 90% confident that the estimated percentage is in error...
Your homework for this week is to watch the first lecture on Financial Accounting and at the end of the outline there are several problems for you to do. The problems begin with parts A-D for you to...
Sheril Rose was a brilliant but penniless material scientist. She had designed a new type of solar panel she believed had great commercial potential. On January 15, she approached Felda Higgins, a...
IAS 23 requires companies to capitalize borrowing costs directly attributable to the acquisition, construction or production of an asset into the cost of an asset.Previously, accounting standard...
(1) Which of the following diagrams represents a solution of a weak diprotic acid? (2) Which diagrams represent chemically implausible situations?
Diamond Walker sells homemade knit scarves for $25 each at local craft shows. Her contribution margin ratio is 60%. Currently, the craft show entrance fees cost Diamond $1,500 per year. The craft...
Regarding financial reporting, which quality of information do you think should be superior to all other qualities? Discuss your answer.
Between relevance and reliability, which information quality is most important? Support your answer with examples.
Describe two structured decisions and two unstructured decisions. Discuss the relative amount of structure in each decision.
Slow Roll Drum Co. is evaluating the extension of credit to a new group of customers. Although these customers will provide $198,000 in additional credit sales, 13 percent are likely to be...
Wendell's Donut Shoppe is investigating the purchase of a new $39,600 conut-making machine. The new machine would permit the company to reduce the amount of part-time help needed, at a cost savings...
1.Discuss the challenges faced with Valuing Stocks and Bonds. As part of this discussion, how will the selected item be implemented in an organization and its significance? 2. Discuss how Valuing...

Which control procedure is probably least effective in reducing the threat of inventory loss? a. Limiting physical

Question:

Step by Step Answer:

a Incorrect Physical access controls are an important method for reducing the ris...View the full answer

Accounting Information Systems

Students also viewed these Business questions