Cutoff information for inventory acquisitions should be obtained during
A) the interim period prior to year-end.
B) the interim period immediately following year-end.
C) the physical observation of inventory.
D) either the interim period prior to or immediately following year-end.

Question

Quizplus · Accepted Answer

Cutoff information for inventory acquisitions should be obtained during the physical observation of inventory to ensure that transactions are recorded in the correct accounting period.

Cutoff Information for Inventory Acquisitions Should Be Obtained During