An inventory observation procedure that compares physical counts with the perpetual inventory master file is an attempt to satisfy the audit objective of
A)existence.
B)completeness.
C)accuracy.
D)classification.

Question

Quizplus · Accepted Answer

Comparing physical counts with the perpetual inventory master file helps ensure that the inventory quantities recorded in the accounting records accurately reflect the actual physical inventory counts, thus satisfying the audit objective of accuracy.

An Inventory Observation Procedure That Compares Physical Counts with the Perpetual