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Which of the Following Internal Control Procedures Most Likely Addresses

Question 868

Multiple Choice

Which of the following internal control procedures most likely addresses the completeness assertion for inventory?


A) Work in process account is periodically reconciled with subsidiary records.
B) Employees responsible for custody of finished goods do not perform the receiving function.
C) Receiving reports are prenumbered and periodically reconciled.
D) There is a separation of duties between payroll department and inventory accounting personnel.

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