Comparing the physical counts with the perpetual inventory master files satisfies the balance-related audit objective of
A) classification.
B) observation.
C) completeness.
D) accuracy.

Question

Quizplus · Accepted Answer

Comparing the physical counts with the perpetual inventory master files is done to verify the accuracy of the inventory recorded in the system. This satisfies the balance-related audit objective of accuracy.

Comparing the Physical Counts with the Perpetual Inventory Master Files