Which of the following is NOT a element of internal controls for inventory?
A) Authorization for all purchases.
B) Proper accounting for receipt of inventory.
C) Perpetual inventory system.
D) Rapid introduction of new products without market studies.

Question

Quizplus · Accepted Answer

Rapid introduction of new products without market studies is not related to internal controls for inventory. The other options (A, B, and C) are all essential elements of internal controls for inventory. Authorization for all purchases ensures that purchases are legitimate and necessary, proper accounting for receipt of inventory ensures that all inventory received is accurately recorded, and a perpetual inventory system allows for continuous tracking and monitoring of inventory levels.

Which of the Following Is NOT a Element of Internal