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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 35
When testing a company's cost accounting system, the auditor uses procedures that are primarily designed to determine that
A) Quantities on hand have been computed based on acceptable cost accounting techniques that reasonably approximate actual quantities on hand.
B) Physical inventory counts agree substantially with book inventories.
C) The system is in accordance with generally accepted accounting principles and is functioning as planned.
D) Costs have been properly assigned to finished goods, work-in-process, and cost of goods sold.
A) Quantities on hand have been computed based on acceptable cost accounting techniques that reasonably approximate actual quantities on hand.
B) Physical inventory counts agree substantially with book inventories.
C) The system is in accordance with generally accepted accounting principles and is functioning as planned.
D) Costs have been properly assigned to finished goods, work-in-process, and cost of goods sold.
Explanation
Verified
Verified
Therefore,...
Auditing & Assurance Services 6th Edition by Timothy Louwers
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