Question
1)All of the following are documents used for inventory control except:a petty cash voucher, a purchase order, a vendor's invoice a receiving report 7) Taking
1)All of the following are documents used for inventory control except:a petty cash voucher, a purchase order, a vendor's invoice a receiving report 7)Taking a physical count of inventory: has no internal control relevance,should be done near year-end,is not necessary when a perpetual inventory system is used, is not necessary when a periodic inventory system is used .8)
When merchandise purchased on account is returned under the perpetual inventory system, the buyer would debit
Accounts Payable
Accounts Receivable
Purchases Returns and Allowances
Merchandise Inventory
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