The objectives of internal control for an inventory management process are to provide assurance that transactions are
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The objectives of internal control for an inventory management process are to provide assurance that transactions are properly executed and recorded and that
a. Independent internal verification of activity reports is established.
b. Transfers to the finished goods department are documented by a com- pleted production report and a quality control report.
c. Production orders are prenumbered and signed by a supervisor.
d. Custody of work in process and finished goods is properly maintained. P-963
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Auditing And Assurance Services A Systematic Approach
ISBN: 9780073337203
5th Edition
Authors: William Messier, Steven Glover, Douglas Prawitt
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