cFlexfield Error in Item Master Form

I have a flexfield setup in the Item Master form named  "Critical Spare" with a Yes_No Value Set associated with it. We have found items that when queried up in the Item Master Form receive an Error message: "ID TC for the flexfield segment Critical Spare does not exist in the Value Set Yes_No" If you enter a value in the Critical Spare flexfield at the (child) assigned organization you will no longer receive the error message in future queries of that item. This only happens on selective items and they are set up the same as all other items.