Effective internal control requires a department to purchase supplies on its own.
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Q16: A system of internal control cannot be
Q17: Merchandisers usually take a physical inventory when
Q18: Taking a physical inventory is not necessary
Q19: Merchandisers usually end their fiscal year during
Q20: Under the perpetual inventory system,inventory losses can
Q22: Invoices are documents prepared by a vendor
Q23: The purchasing department prepares a purchase requisition
Q24: The degree of separation of duties varies
Q25: The use of prenumbered documents is important
Q26: A check authorization would be prepared after
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