Observing an entity's inventory held on consignment by others tests the assertion of
A) Existence.
B) Completeness.
C) Valuation.
D) Rights and obligations.

Question

Quizplus · Accepted Answer

Observing an entity's inventory held on consignment by others tests the assertion of existence because it provides evidence that the inventory actually exists and is not merely recorded on the entity's books.

Observing an Entity's Inventory Held on Consignment by Others Tests