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UP7-1 (Inventory and internal controls) You are a consultant who helps new entrepreneurs set up their accounting systems. You are frequently asked the following questions

UP7-1(Inventory and internal controls)

You are a consultant who helps new entrepreneurs set up their accounting systems. You are frequently asked the following questions about inventory:

  • What are internal controls?
  • Why do I need to implement internal controls for inventory?
  • What are some commonly used internal controls related to inventory?

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What is your response to these questions?

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