Identify all the controls that mitigate the threat of mistakes when counting deliveries from suppliers: (Check all that apply.) a) Budgetary controls b) Not informing receiving employees about the quantities ordered c) Segregation of duties of inventory custody and receiving d) Restriction of physical access to inventory e) Use of bar codes and RFID tags f) Requiring receiving employees to sign the receiving report g) Requiring the existence of an approached purchase order prior to accepting any delivery h) Documentation of all transfers of inventory

Question

Business

Patrick Alvarado

16 July, 04:28

Identify all the controls that mitigate the threat of mistakes when counting deliveries from suppliers: (Check all that apply.) a) Budgetary controls b) Not informing receiving employees about the quantities ordered c) Segregation of duties of inventory custody and receiving d) Restriction of physical access to inventory e) Use of bar codes and RFID tags f) Requiring receiving employees to sign the receiving report g) Requiring the existence of an approached purchase order prior to accepting any delivery h) Documentation of all transfers of inventory

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Tigger · Answer 1

b, e and f

Explanation:

Controls are the rules and procedure which is placed to eliminate the misstatements and Fraud risk. These are also placed in the business to run the business operations smooth without any halt.

In Inventory control there are many controls placed to make sure there is no existence of error and fraud in the this section of business. These control ensure the assertions of completeness and existence of the inventory.

From the given options b) Not informing receiving employees about the quantities ordered, e) Use of bar codes and RFID tags, and f) Requiring receiving employees to sign the receiving report are the only controls that will mitigate the threat of mistakes when counting deliveries from suppliers. All of the other are irrelevant to specific purpose of control given in the question.