IT technology related to inventory can be very useful in maintaining accurate records for inventory balances if
A)the internal controls for the technology are effectively designed to prevent or detect misstatements of purchases
B)the internal controls for the technology are effectively designed to prevent or detect misstatements in the financial statements
C)the internal controls for the technology are effectively designed to prevent or detect misstatements of inventory
D)the internal controls for the technology are effectively designed to prevent or detect misstatements of costs of goods sold

Question

Quizplus · Accepted Answer

IT technology related to inventory can only be useful in maintaining accurate records for inventory balances if the internal controls for the technology are effectively designed to prevent or detect misstatements of inventory. The other options refer to different areas of financial statements and are not directly related to inventory.

IT Technology Related to Inventory Can Be Very Useful in Maintaining