or. The product is owne it is delivered from ABC i do you think will be th

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 6MC: A company is trying to set up proper internal controls for their accounts payable/inventory...
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ABC Company is using the inventory system managed by the
vendor. The product is owned and managed by the vendor
until it is delivered from ABC's distribution center to the stores.
What do you think will be the problems that ABC will encounter
in its purchases and payments process?
Transcribed Image Text:ABC Company is using the inventory system managed by the vendor. The product is owned and managed by the vendor until it is delivered from ABC's distribution center to the stores. What do you think will be the problems that ABC will encounter in its purchases and payments process?
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