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Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343 Exercise 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.
A) Cutoff.
B) Existence.
C) Valuation and allocation.
D) Rights and obligations.
E) Occurrence.
Explanation
Verified
Verified
Cutoff means accounting for revenue, exp...
Auditing & Assurance Services 6th Edition by Timothy Louwers
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