The auditor should be satisfied that acquisitions of raw materials are correctly stated at the completion of the:
A) payroll and personnel cycle.
B) inventory and warehousing cycle.
C) acquisitions and payments cycle.
D) cash cycle.

Question

Quizplus · Accepted Answer

The acquisitions and payments cycle directly involves the purchase of raw materials and the recording of those acquisitions, making it the relevant cycle for ensuring raw materials are correctly stated.

The Auditor Should Be Satisfied That Acquisitions of Raw Materials