When goods are received at the end of the accounting period, and the invoice is not received until after the start of the following period, a problem may arise as to when to record the liability. This is referred to as a(n): Channel stuffing Liability deferral Obligation referral Cutoff issue Internal control activities within the purchasing process, identified as adequate records and documents, include which of the following? Files are to be maintained for purchase requisitions, purchase orders, receiving reports, and invoices. Companies are to implement controls where the corresponding benefit exceeds the related cost. Periodic physical inventory counts are to be reconciled with the inventory ledger. Avoid having the same individuals who handle the inventory also have access to the related accounting records