Observing an entity's inventory held on consignment by others tests the assertion of:
A)existence.
B)completeness.
C)valuation.
D)rights and obligations.

Question

Quizplus · Accepted Answer

Observing an entity's inventory held on consignment by others primarily tests the assertion of existence, ensuring that the inventory the entity claims to own actually exists, even when it is not physically present at the entity's location.

Observing an Entity's Inventory Held on Consignment by Others Tests