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Based on the narrative below, answer the question: RECEIVING: When Materials arrive at the warehouse, the quality control function inspects the goods. Occasionally, if the
Based on the narrative below, answer the question: RECEIVING: When Materials arrive at the warehouse, the quality control function inspects the goods. Occasionally, if the material is desperately needed, the production manager instructs quality control accepts goods it might otherwise reject. at this point, the receiving clerk fills out a receiving ticket based on the suppliers attached packing slip or on the Polly's purchase order. One copy of the receiving ticket is sent to the main production office, a second copy is sent to accounting, and a third copy remains in the shipping and receiving department. Production records to the inventory increase in the inventory record, accounting attaches to the receiving ticket to the purchase order for accounts payable to process, and the receiving function keeps a copy in case the other is misplaced. There are NO internal control weaknesses in the system as described above. True or false?
RECEIVING: When Materials arrive at the warehouse, the quality control function inspects the goods. Occasionally, if the material is desperately needed, the production manager instructs quality control accepts goods it might otherwise reject. at this point, the receiving clerk fills out a receiving ticket based on the suppliers attached packing slip or on the Polly's purchase order. One copy of the receiving ticket is sent to the main production office, a second copy is sent to accounting, and a third copy remains in the shipping and receiving department. Production records to the inventory increase in the inventory record, accounting attaches to the receiving ticket to the purchase order for accounts payable to process, and the receiving function keeps a copy in case the other is misplaced.
There are NO internal control weaknesses in the system as described above.
True or false?
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