Performing the physical count of inventory on a cycle basis throughout the year is acceptable for both perpetual and periodic inventory systems.
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Q100: Because of the importance of tests of
Q101: From an audit perspective, transactions are far
Q102: To test for proper purchases cutoff, an
Q103: In the audit of inventory, the client
Q104: The audit procedure 'observe whether inventory movement
Q106: A comparison of the current year's inventory
Q107: To test for proper sales cutoff, an
Q109: When perpetual inventory master files are accurate,
Q110: The audit procedure 'foot the inventory listing
Q114: When the client's perpetual inventory master files
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