Weak internal control over inventory _______.
A) may lead to decreased theft of inventory by employees
B) may lead to increased theft of inventory by employees
C) will automatically mean the inventory balance is misstated
D) will serve to decrease inherent risk related to inventory
Correct Answer:
Verified
Q45: Consigned inventory held by the client, _.
A)should
Q46: In tracing beginning inventory balances to prior
Q47: The inherent risk of material misstatement arising
Q48: An inventory markdown by a client _.
A)could
Q49: If ending inventory is overstated, _.
A)cost of
Q51: Many of the controls over inventory _.
A)overlap
Q52: The value of goods available for sale
Q53: The computer manufacturing industry _.
A)is subject to
Q54: With a manufacturer, wholesaler, or retailer, inherent
Q55: The auditor needs to be attuned to
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