Why does the auditor recount the client's inventory?
A) to ensure that none is lost or intentionally omitted (completeness)
B) to obtain proper cutoff information for sales and acquisitions (cutoff)
C) to confirm that inventory as recorded on tags exists (existence)
D) to ensure that inventory is counted accurately (accuracy)
Correct Answer:
Verified
Q40: Which of the following is NOT a
Q41: The test of details of balance procedure
Q42: Sample size in physical observation of inventory
Q43: Which items should auditors select when testing
Q44: A file recording payroll transactions for each
Q46: Which document indicates the time an employee
Q47: What is the most important factor related
Q48: Controls which provide a means of ensuring
Q49: From which one of the following evidence-gathering
Q50: How is the payroll and personnel cycle
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