Q:

Which of the following internal control activities is most likely to address the completeness assertion for inventory?

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Which of the following internal control activities is most likely to address the completeness assertion for inventory?


  1. the work-in-process account is periodically reconciled with subsidiary records
  2. employees responsible for custody of finished goods to not perform the receiving function
  3. receiving reports are pre-numbered and periodically reconciled
  4. there is a separation of duties between payroll department and inventory accounting personnel

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