The assertions pertaining to inventory typically tested by the auditor are _______.

Name: The assertions pertaining to inventory typically tested by the auditor are _______.
Brand: Quizplus
Rating: 4.9 (49 reviews)

Question

Quizplus · Accepted Answer

The auditor typically tests four assertions related to inventory, which are completeness, existence, valuation, and rights & obligations. A) is incorrect because it only includes cutoff, existence, and disclosure and B) is incorrect because it only includes rights and obligations, disclosure, and going concern.

The Assertions Pertaining to Inventory Typically Tested by the Auditor