Which of the following are true when cycle counting inventory?
I. Inventory should be audited for count and location.
II. Cycle counts can be scheduled at regular intervals or special times.
II. A good time to cycle count an item is when an order is placed.
A) I, II and III
B) I and II only
C) I and III only
D) II and III only
E) I only
A
You might also like to view...
Which of the following indicates a specific and intentional meaning when using gestures and posture as a form of nonverbal communication?
A) slouching B) waving C) fidgeting D) leaning forward E) pacing
The closing entry that would be made at the yearend transferring the interest expense of $50 on a note is:
a. Interest Expense 50 Notes payable 50 b. Interest Expense 50 Income Summary 50 c. Income Summary 50 Interest Expense 50 d. Notes payable 50 Interest Expense 50