Budd, the purchasing agent of Lake Hardware Wholesalers, has a relative who owns a retail hardware store. Budd arranged for hardware to be delivered by manufacturers to the retail store on a COD basis, thereby enabling his relative to buy at Lakes wholesale prices. Budd was probably able to accomplish this because of Lakes poor internal control over.

a. Purchase requisitions

b. Cash receipts.

c. Perpetual inventory records.

d. Purchase orders.