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patriot [66]
3 years ago
7

At the end of an accounting period, it is important to ensure proper inventory _____ to determine the ownership of goods in tran

sit.
Business
1 answer:
Rudik [331]3 years ago
8 0

Answer:

Cutoff.

Explanation:

At the end of an accounting period, it is important to ensure proper inventory cutoff to determine the ownership of goods in transit.

In Financial accounting, the term cutoff refers to the process which ensures that business transactions and activities are recorded in the correct accounting period.

An inventory cutoff involves stopping or pausing shipments or receiving of supplies of goods, in order to enable proper accounting and count checks.

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