Reconciling the open production cost reports to the work-in-process inventory control account is a procedure designed to test the control objective of ________.
A)environment
B)validity
C)accuracy
D)authorization

Question

Quizplus · Accepted Answer

The control objective being tested in reconciling the open production cost reports to the work-in-process inventory control account is accuracy, which ensures that financial data is recorded correctly and accurately reflects the company's transactions and events. The reconciliation process helps to ensure that the costs recorded in the production reports match the costs recorded in the inventory control account, thus ensuring the accuracy of the company's financial statements.

Reconciling the Open Production Cost Reports to the Work-In-Process Inventory