To assure proper segregation of duties, who should maintain the perpetual inventory master files?
A)Production personnel
B)Inventory storeroom personnel
C)Inventory receiving personnel
D)Accounting department personnel

Question

Quizplus · Accepted Answer

Maintaining the perpetual inventory master files is primarily an accounting function to ensure proper record-keeping and accuracy in valuing inventory. It is important to maintain segregation of duties, meaning different departments should not have overlapping tasks to prevent possible fraud or errors. Therefore, the accounting department personnel is the best choice to maintain the perpetual inventory master files to assure proper segregation of duties.

To Assure Proper Segregation of Duties, Who Should Maintain the Perpetual