Reviewing data pertaining to inventory quality relatprimarily to the:
A) occurrence assertion.
B) completeness assertion.
C) rights and obligations assertion.
D) valuation and allocation

Question

Quizplus · Accepted Answer

Inventory quality relates primarily to the valuation and allocation assertion, which is concerned with the accuracy of inventory cost, including the allocation of overheads and inventory write-downs. This assertion is important for ensuring that balance sheet items are not overstated or understated, thereby affecting financial measurements and ratios.

Reviewing Data Pertaining to Inventory Quality Relatprimarily to The