Tracing costs used to price inventory to vendors' invoices test which of the following assertions?
A)Occurrence.
B)Cutoff.
C)Accuracy.
D)Classification.

Question

Quizplus · Accepted Answer

Tracing costs used to price inventory to vendors' invoices is a test of accuracy, as it ensures that the inventory is accurately valued at its purchase cost. The other options are not relevant to this specific test.

Tracing Costs Used to Price Inventory to Vendors' Invoices Test