Which one of the following is NOT an element of the audit of the inventory and warehousing cycle?
A) Review timekeeping procedures for manufacturing employees
B) Physically observe inventory
C) Price and compile inventory
D) Check how goods are shipped and revenue and costs are recorded

Question

Quizplus · Accepted Answer

Reviewing timekeeping procedures for manufacturing employees is not directly related to the audit of the inventory and warehousing cycle. The other options, physically observing inventory, pricing and compiling inventory, and checking shipping and revenue/costs recorded are all key elements of the audit of the inventory and warehousing cycle.

Which One of the Following Is NOT an Element of the Audit