The following questions concem internal controls, and the testing of internal controls, in the inventory and warehousing cyce. Choose the best res O 1. retuned to the requisitioner O 2. retained in the purchasing department's files. O 3. forwarded to the accounting department. 4. forwarded to the receiving department. b. Which of the following intemal control procedures most likely would be used to maintain accurate inventory records? 01. Perpetual inventory records are periodically compared with the current cost of individual inventory items O2. Requisitions, receiving reports, and purchase orders are independently matched before payment is approved O3. Periodic inventory counts are used to adjust the perpetual inventory records. O 4. A just in-time inventory ordering system keeps inventory levels to a desired minimum. c. Which of the following sets of duties related to inventory and warehousing causes the greatest concern about inadequate segregation of duties 01. Individuals in charge of approving disbursements related to inventory purchases have "read-only ability to view the list of vendors in the p O2. The receiving department has access to copies of the purchase orders that exclude information about quanities ordered. O3. Accounts payable personnel have access to receiving reports and purchases orders in addition to vendor invoices for inventory purchase 4. Purchasing agents who arrange for shipment of raw materialsfrom vendors are responsible for veriying actual receipt of the inventoryite Click to select your answer Save for Later