Auditing & Assurance Services 6th Edition by Timothy Louwers

تمرين 41

When auditing merchandise inventory at year-end, the auditor performs audit procedures to ensure that all goods purchased before year-end are received before the physical inventory count. This audit procedure provides assurance about which management assertion?
A) Cutoff.
B) Existence.
C) Valuation and allocation.
D) Rights and obligations.
E) Occurrence.