Which of the following would most likely be an internal control activity de- signed to detect errors
Question:
Which of the following would most likely be an internal control activity de- signed to detect errors and fraud concerning the custody of inventory?
a. Periodic reconciliation of work in process with job cost sheets.
b. Segregation of functions between general accounting and cost accounting.
c. Independent comparisons of finished goods records with counts of goods on hand.
d. Approval of inventory journal entries by the storekeeper.
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Related Book For
Auditing And Assurance Services
ISBN: 9780073527086
7th Edition
Authors: William MessierSteven Glover
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