Reconciling the open production cost reports to the work-in-process inventory control account is a procedure designed to test the control objective of
A)completeness.
B)accounting.
C)validity.
D)authorization.

Question

Quizplus · Accepted Answer

Reconciling the open production cost reports to the work-in-process inventory control account is a procedure designed to ensure that all production costs are recorded in the work-in-process inventory control account. This addresses the completeness control objective, which is concerned with ensuring that all transactions and events that should be recorded in the financial statements are indeed recorded.

Reconciling the Open Production Cost Reports to the Work-In-Process Inventory