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(B) The First Corporation has the following internal controls related to inventory: 1. Only authorized inventory warehousing personnel are allowed in inventory storage areas. 2.
(B) The First Corporation has the following internal controls related to inventory: 1. Only authorized inventory warehousing personnel are allowed in inventory storage areas. 2. The inventory purchasing system only allows purchases from pre-approved vendors. Required: For each of the internal controls: a. Describe risks the control is designed to mitigate. b. Design a test of control to determine if the control is operating effectively
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