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Describe the Following Audit Procedures,providing An Example of How Each

Question 108

Essay

Describe the following audit procedures,providing an example of how each procedure could be used to gather evidence for the inventory process.
Inventory Process-Substantive tests
a.Inquiry
b.Observation
c.Inspection of documents
d.Analytical Procedures

Correct Answer:

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a.Inquiry- the process of acquiring info...

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