Physical controls employed in the expenditure cycle

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Reference no: EM131258139

1. The operating cycle of a company:

A. Must be less than one year.

B. Is usually greater than one year.

C. Is the time it takes to purchase inventory, sell inventory, and collect cash from the sale.

D. Is the time it takes to acquire a loan, pay the interest, and retire the loan by paying the creditor in full.

2. Identify six classes of physical controls employed in the expenditure cycle and give one example of each.

Reference no: EM131258139

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