Question: Which control procedure is probably least effective in reducing the threat of inventory loss? a. Limiting physical access to inventory b. Documenting all transfers of

Which control procedure is probably least effective in reducing the threat of inventory loss?

a. Limiting physical access to inventory

b. Documenting all transfers of inventory within the company

c. Regular materials usage reports that highlight variances from standards

d. Periodically counting inventory and investigating any discrepancies between those counts and recorded amounts

Step by Step Solution

★★★★★

3.53 Rating (160 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a Incorrect Physical access controls are an important method for reducing the ris... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Information Systems Questions!

Q:

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Q:

The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...

Q:

Research and analyze potential improvements to the Japanese auto supply chain, as presented in the "Supply Chain Challenges in Post-Earthquake Japan" case study (pages 420422 in your Introduction to...

Q:

Which control procedure is probably least effective in reducing the threat of inventory loss? periodically counting inventory and investigating any discrepancies between those counts and recorded...

Q:

Which control procedure is probably the least effective in reducing the threat of inventory loss? periodic inventory counts limiting physical access to inventory documenting transfers of inventory...

Q:

Chapter Ten Nonwage Issues in Bargaining Wage and nonwage issues are not completely separable. Both have economic consequences for the employer. For example, provisions relating to hours of work...

Q:

Consider your place of employment, your previous place of employment, or an organization in which you are very familiar. Identify all of the information that is needed in this organization related to...

Q:

Chapter Ten Nonwage Issues in Bargaining Wage and nonwage issues are not completely separable. Both have economic consequences for the employer. For example, provisions relating to hours of work...

Q:

Reference FOSSUM. (2008). Labor Relations, 10th Edition. [VitalSource Bookshelf version]. Retrieved from http://online.vitalsource.com/books/1259220389/epubcfi/6/34 Page 294 Chapter Ten Nonwage...

Q:

Part 1: Applying General Controls General Controls - A company designs general controls to ensure that its overall AIS is stable and well managed. They contain (partial list): Proper Authorization of...

Q:

Have you ever seen anything that you believe was a spacecraft from another planet? This was the question put to 1,500 American adults in a national poll conducted by ABC News and The Washington Post....

Q:

Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics Company, which has several dozen plants scattered in locations throughout the world....

Q:

From a standpoint of the free-rider problem, discuss the likely effectiveness of group assignments. Does the economic analysis based on the free-rider problem seem to match your experiences?

Q:

Use the balance sheet equation to analyze the effects of the following transactions: 1. Jills Slipper Shop was formed with an original investment of $100,000 in exchange for common stock. 2. Jills...

Q:

Which popular DBMS products are based on the relational data model?

Q:

Which DBMS products are based on a logical model other than the relational data model?

Q:

What are the relative strengths and weaknesses of the different types (relational versus other logical models) of DBMSs?

Q:

On December 1st, a Buyer paid 10$ for a shirt. The transaction was recorded by crediting sales revenue. As of year-end, the seller hasn't delivered the shirt to the buyer. How to prepare the...

Q:

Inventory items are sold for $50 each. Stevens uses a periodic inventory system. Required: Show all vour work and place vour fintal answers in the spaces provided in the answers

Q:

CSIT 5 7 5 Programming Fundamentals for Computer Science Lab # 5 A Objectives To learn to code, compile and run a program using file input and an output file. Assignment Plan and code a program...