What is the major advantage of using a perpetual inventory system? a.) It provides efficient internal control over materials. b.) It avoids inventory shortages and overages. c.) It minimizes error in posting receipts and issues of materials. d.) It avoids losses due to theft.

Q: What is the major advantage of using a perpetual inventory system? a. It minimizes error in posting…

A: ●6. What is the major advantage of using a perpetual inventory system? Answer Option c:It provides…

Q: Discuss how EDI creates an environment in which sensitive information, such as inventory amounts and…

A: Electronic Data Interchange: Electronic data interchange (EDI) is the channel between the computer…

Q: Explain the difference between the Perpetual and Periodic inventory systems and let us know why…

A: Inventory is the product that a company owns for resale in its regular course of business. It is…

Q: Discuss how the inventory process supports the production planning process and the risk to the…

A: The term inventory control process includes overseeing things from the second they are ordered all…

Q: For good internal control, the purchasing department should not be responsible for... Select one:…

A: Internal Control Internal controls are the mechanisms, rules, and procedures a company should need…

Q: How can we protect inventroy from being reordered automatically each time the system detects a low…

A: Low inventory level is the level at which there is a need to order new inventory so that the…

Q: d. Inappropriate Assignment of Labor Costs to Inventory A company having difficulty meeting profit…

A: Analytical procedures are the methods used by the auditors to find out the plausible differences…

Q: Good internal controls in the revenue cycle should ensure all of the following except Select one: a.…

A: Introduction: Revenue: Sales called as Revenue to the business. Revenue is generated on selling…

Q: Under EOQ approaches, order costs can be minimised by placing large, infrequent orders for…

A: GIVEN    Under EOQ approaches, order costs can be minimised by placing large, infrequent orders for…

Q: What internal control or procedure(s) would provide protection against the following threats? A…

A: Note: Since we are entitled to answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…

Q: A company is trying to set up proper internal controls for their accounts payable/inventory…

A:

Q: To reduce the risk of allowing an order to proceed when goods are not available or rejecting an…

A: solution : The correct answer is Maintain accurate and timely perpetual inventory records and…

Q: Perpetual inventory valuation system does not require....   a. physical count or measurement of…

A: The question is multiple choice question Required  Choose the Correct Option.

Q: What are the risks that are caused by the following combination of tasks? - The warehouse clerk who…

A: Solution- Warehouse clerk: Warehouse clerk has custodial responsibility as well as record keeping…

Q: Please answer with reason Which of the following statements concerning formal and less-formal…

A: Option a). Both formal and less-formal nonperpetual unit control systems enable the retailer to…

Q: The fundamental EOQ model a. provides for fluctuating lead times during reorder cycles. b. is…

A: EOQ (Economic order quantity): A decision much out the great inventory management. the quantity to…

Q: Analysts must recognize that the use of the specific identification method to value inventory has a…

A: The amount, by which the Inventory Level exceeds the Closing Inventory level is referred to as the…

Q: With a perpetual inventory system inventory shortages through lost or stolen goods can be readily…

A: In Perpetual Inventory system the stock records  are kept up-to-date, by fast recording the…

Q: Which of the following statements is false? Explain Why?? a. It is the best practice to verify…

A: Intra company transfer represents the transfer of the inventory from one department to another…

Q: Which of the following is an advantage of using a perpetual inventory system A. It is effective with…

A: In this question, we have to find out that from the following options which one is the advantage of…

Q: What is the primary reason we perform physical inventory observations? A. To obtain sufficient…

A: Inventory : It is the stock of raw material work in process and finished goods Kept in the store for…

Q: A company that uses a just in time inventory system:   A)  has finished goods inventory on hand at…

A: The JIT inventory system provides more efficient use of working capital and enhances cash flow

Q: Which of the following is an internal control weakness for a company whose inventory of supplies…

A: Internal control is a mechanism or procedure that the company implements so that the integrity of…

Q: Under a just-in-time inventory system, management strives to O None of the answers are correct.…

A: Answer is = Have inventory available when it is needed.

Q: Provide examples of some procedures that can avoid inventory shrinkage.

A: In the business organization when the situation of inventory lost, theft, or damage occur is known…

Q: Describe how prenumbered shipping papers and sales invoices may be effective controls for avoiding…

A: Prenumbering: It refers to the technique of giving numerical identifiers to documents that may be…

Q: Provide the name of a business and example inventory for that business. List one or more examples of…

A: Introduction For every business, inventory or stock plays a key role. Stock may be in the form of…

Q: Discuss how EDI dealing with sensitive information, such as inventory amounts and price data, is no…

A: Electronic Data Interchange: Electronic data interchange (EDI) is the channel between the computer…

Q: Explain how prenumbered shipping documents and sales invoicescan be useful controls for preventing…

A: Prenumbering: It refers to the process of assigning of numbers to documents which can be identified.

Q: Which one of the following is a reason for the just- in-time inventory policy? Select one: A. The…

A: Just in time inventory policy means purchasing the inventory when ever required and not maintaining…

Q: Sales orders are written by sales people who have no access to the goods, which are released by…

A: Delegation of authority: It is the organizational process of allocation of tasks to subordinates…

Q: Please explain why some managers feel that too much inventory is "evil"?

A: Excess Inventory: The business managers think that if an entity has more or excess inventory it has…

Q: A serious exposure in the ordering process of the expenditure cycle is increased inventory costs.…

A: Inventory Cycle: The inventory cycle is the method involved with getting, arranging, and dealing…

Q: Discuss how the inventory process supports the production planning process and the risks to the…

A: Accounting Information System (AIS) is said to be the specialized subsystem of the Information…

Q: Without a computerized inventory accounting system, a perpetual inventory system would most easily…

A: Perpetual Inventory System: In Perpetual Inventory system the purchase and sale are recorded…