An auditor who wished to test for the existence or occurrence of inventory would most likely select a sample of inventory items from the perpetual records and
A) Trace additions to the general ledger.
B) Vouch additions to receiving reports.
C) Vouch additions to sales invoices.
D) Trace receipts to receiving reports.
Correct Answer:
Verified
Q2: At the completion of the physical inventory,the
Q3: The Bill of Materials provides pricing information
Q4: Cost accounting is responsible for reconciling inventory
Q5: L.Martinez,CPA,was auditing a client,Marvelous Retail Company and
Q6: An auditor selected an inventory item on
Q7: Inventory observation must be observed if inventory
Q8: If control risk is assessed high,cost accumulations
Q9: The sales forecast is the document that
Q10: Inventory that is not used to produce
Q11: Items held on consignment with another company
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