inventory records Archives

Which of the following internal control procedures most likely would be used to maintain accurate inventory records?

Posted on February 18, 2023 by Assessments

The following questions concern internal controls, and the testing of internal controls, in the inventory and warehousing cycle. Choose the best response. a. For control purposes, the quantities of materials ordered may be omitted from the copy of the purchase order that is (1) returned to the requisitioner. (2) forwarded to the receiving department. (3) […]

List and describe at least five ways generalized audit software can be used to assist in all aspects of the audit of the inventory of Boos & Baumkirchner, Inc.

Posted on February 11, 2023 by Assessments

A CPA’s client, Boos & Baumkirchner, Inc., is a medium-size manufacturer of products for the leisure-time activities market . During the past year, a new computer system was installed and inventory records of finished goods and parts were converted to the new system. The inventory master file is maintained electronically. Each record of the file […]

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Which of the following internal control procedures most likely would be used to maintain accurate inventory records?

List and describe at least five ways generalized audit software can be used to assist in all aspects of the audit of the inventory of Boos & Baumkirchner, Inc.