Commercial term denoting agreement that buyer shall accept delivery of goods in the condition in which they are found on inspection prior to purchase, even if they are damaged or defective. Latent defects are generally excepted.
Inspection refers to the physical scrutinizing review of goods, property, or documents. It is commonly required in various domains such as real estate, customs, and quality control to ensure compliance, assess conditions, and verify legal documents.
A receiving clerk plays a crucial role in a firm's logistics by inspecting, verifying, and recording all incoming goods to ensure accurate inventory management and quality control.
Audit tests designed to check the completeness, ownership, existence, valuation, and disclosure of the information contained in the accounting records and financial statements of an organization being audited.
