Your client's inventory turnover has decreased from 8.2 times to 5.6 times during the year. Based on this decrease, which financial report assertion would you be least concerned with?
A) Existence.
B) Rights and obligations.
C) Valuation and allocation.
D) Completeness.
Correct Answer:
Verified
Q42: All of the following evidence-gathering procedures can
Q43: To determine whether accounts payable are complete,
Q45: An auditor analyses repairs and maintenance accounts
Q46: The physical count of inventory of a
Q48: A client maintains perpetual inventory records in
Q51: In the examination of property, plant and
Q52: Which of the following is the most
Q53: Which assertion for ending inventory is most
Q53: The auditor is most likely to verify
Q60: An auditor usually examines receiving reports to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents