Instead of taking a physical inventory count on the balance sheet date, the client may...
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Accounting
Instead of taking a physical inventory count on the balance sheet date, the client may take physical counts prior to the yearend if internal control is adequate and: Multiple Choice Obsolete inventory items are segregated and excluded. Computer error reports are generated for missing prenumbered inventory tickets. Wellkept records of perpetual inventory are maintained. Inventory is slowmoving.
Instead of taking a physical inventory count on the balance sheet date, the client may take physical counts prior to the yearend if internal control is adequate and:
Multiple Choice
Obsolete inventory items are segregated and excluded.
Computer error reports are generated for missing prenumbered inventory tickets.
Wellkept records of perpetual inventory are maintained.
Inventory is slowmoving.
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