Banking · Auditing and Controls
Which of the following are the most likely consequences of an internal control deficiency in the requisition system for raw materials? (1) Fraudulent purchases may be made, leading to funds being diverted. (2) Stock-outs may occur, resulting in lost revenue. (3) Unnecessary purchases may be made, resulting in excess obsolescent inventory. (4) Raw materials of poor quality may be purchased, affecting product quality.
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2 and 3
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