Which of the following is not one of the independent auditor's objectives regarding the examination of inventories? A)Verifying that inventory counted is owned by the client. B)Verifying that the client has used proper inventory pricing. C)Ascertaining the physical quantities of inventory on hand. D)Verifying that all inventory owned by the client is on hand at the time of the count.

Question

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The independent auditor's objective is to verify that inventory counted is owned by the client, ascertain the physical quantities of inventory on hand, and verify that the client has used proper inventory pricing. However, the auditor is not required to verify that all inventory owned by the client is on hand at the time of the count. Some inventory may be in transit or on consignment, for example.

Which of the Following Is Not One of the Independent