Description

This activity has two problems. Each problem will give you information and data and then ask you a series of questions. In the first problem, you will use the given information to test the effectiveness of the internal controls of a company’s inventory balances. In the second problem, you will use the given information as well as data from a table to test a company’s cash balances. a. Complete the following table to identify six internal controls and tests of controls that can be used to test the effectiveness of internal controls over inventory.