Selecting a sample of quantities of inventory in the warehouse and tracing each item to the final stock sheets helps address which of the following assertions in respect of inventory?
A)Completeness.
B)Valuation and allocation.
C)Existence.
D)Rights and obligations.

Question

Quizplus · Accepted Answer

Tracing inventory items from the warehouse to the final stock sheets ensures that all inventory items are recorded, addressing the completeness assertion.

Selecting a Sample of Quantities of Inventory in the Warehouse