Auditing & Assurance Services 6th Edition by Timothy Louwers

Exercise 5

Which of the following internal control activities most likely addresses the completeness assertion for inventory?
A) The work-in-process account is periodically reconciled with subsidiary inventory records.
B) Employees responsible for custody of finished goods do not perform the receiving function.
C) Receiving reports are prenumbered, and the numbering sequence is checked periodically.
D) There is a separation of duties between the payroll department and inventory accounting personnel.