Explanation Inventory: Inventory is a tangible asset which is stored by the organization in order to make profit out of it. Inventories are of various types such as raw material, finished goods and work in progress. d. Reconcile stock releases document and packing slip is the control which helps to ensure the inventory items shipped to the customer are the correct type and the correct amount. Therefore, option d. is correct. a. Three-way-match not helps to ensure that the inventory items shipped to the customer are in correct amount and are correct type...

10th Edition

ISBN: 9781337619202

Author: Hall, James A.

Publisher: Cengage Learning,

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Question

Chapter 4, Problem 4MCQ

To determine

Identify the control that helps to ensure that the inventory items shipped to the customer are the correct type and the correct amount.

Expert Solution & Answer

Chapter 4 Solutions

Accounting Information Systems

Ch. 4 - Prob. 1RQ Ch. 4 - Prob. 2RQ Ch. 4 - What function does the receiving department serve...Ch. 4 - Prob. 4RQ Ch. 4 - Prob. 5RQ Ch. 4 - Prob. 6RQ Ch. 4 - Prob. 7RQ Ch. 4 - Prob. 8RQ Ch. 4 - Prob. 9RQ Ch. 4 - Distinguish between an edit run, a sort run, and...

Ch. 4 - Prob. 11RQ Ch. 4 - Prob. 12RQ Ch. 4 - Prob. 13RQ Ch. 4 - Prob. 14RQ Ch. 4 - Prob. 15RQ Ch. 4 - Prob. 16RQ Ch. 4 - In a manual system, after which event in the sales...Ch. 4 - Prob. 18RQ Ch. 4 - What document initiates the billing process?Ch. 4 - Prob. 20RQ Ch. 4 - Prob. 1DQ Ch. 4 - Prob. 2DQ Ch. 4 - Prob. 3DQ Ch. 4 - Prob. 4DQ Ch. 4 - Prob. 5DQ Ch. 4 - Prob. 6DQ Ch. 4 - Prob. 7DQ Ch. 4 - Prob. 8DQ Ch. 4 - What financial statement misrepresentations may...Ch. 4 - Prob. 10DQ Ch. 4 - Prob. 11DQ Ch. 4 - Prob. 12DQ Ch. 4 - Prob. 13DQ Ch. 4 - Prob. 14DQ Ch. 4 - Prob. 15DQ Ch. 4 - How is EDI more than technology? What unique...Ch. 4 - Prob. 17DQ Ch. 4 - Prob. 1MCQ Ch. 4 - Prob. 2MCQ Ch. 4 - Prob. 3MCQ Ch. 4 - Prob. 4MCQ Ch. 4 - Prob. 5MCQ Ch. 4 - Prob. 6MCQ Ch. 4 - Prob. 7MCQ Ch. 4 - Prob. 8MCQ Ch. 4 - Prob. 9MCQ Ch. 4 - Prob. 10MCQ Ch. 4 - Prob. 1P Ch. 4 - Prob. 2P Ch. 4 - Prob. 3P Ch. 4 - Prob. 4P Ch. 4 - Prob. 5P Ch. 4 - Prob. 6P Ch. 4 - Prob. 7P Ch. 4 - Prob. 8P Ch. 4 - Prob. 9P Ch. 4 - Prob. 10P Ch. 4 - Prob. 11P Ch. 4 - Prob. 12P Ch. 4 - In 1989, Robert Smith opened a small fruit and...Ch. 4 - Posavek is a wholesale supplier of building...Ch. 4 - Prob. 3ICC Ch. 4 - (Prepared by Will Richens and Michael Catchpole,...Ch. 4 - Prob. 6ICC

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Similar questions

A company is trying to set up proper internal controls for their accounts payable/inventory purchasing system. Currently the purchase order is generated by the same person who receives the inventory. Together the purchase order and the receiving ticket are sent to accounts payable for payment. What changes would you make to improve the internal control structure? A. No changes would be made since the person paying the bills is different from the person ordering the inventory. B. The person in accounts payable should generate the purchase order. C. The person in accounts payable should generate the receiving ticket once the invoice from the supplier is received. D. The responsibilities of generating the purchase order and receiving the inventory should be separated among two different people.
A JIT inventory management system maintains which of the following? a. Goods should be pushed through the system on a fixed schedule based on anticipated demand. b. Goods should be pulled through the system by present demand. c. Total inventory costs are minimized by balancing setup and carrying costs. d. Inventories are needed to avoid stock-out costs.

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