Formal procedures for approving acceptance of returns are an appropriate control procedure for identifying and recording returned goods.

Question

Quizplus · Accepted Answer

Formal procedures for approving acceptance of returns ensure that all returned goods are properly identified and recorded. This helps to prevent fraud or errors in the return process and maintain accurate records of inventory and financial transactions. Therefore, it is an appropriate control procedure for identifying and recording returned goods.

Formal Procedures for Approving Acceptance of Returns Are an Appropriate