Inquiries of warehouse personnel concerning possible obsolete or slow-moving inventory items provide assurance about the PCAOB assertion of
A) Completeness.
B) Existence.
C) Presentation.
D) Valuation.
E) Rights and obligations.

Question

Quizplus · Accepted Answer

Inquiries of warehouse personnel concerning possible obsolete or slow-moving inventory items provide assurance about the PCAOB assertion of valuation, as it helps to ensure that inventory is valued accurately and is not being overstated with items that are unlikely to be sold in the near future.

Inquiries of Warehouse Personnel Concerning Possible Obsolete or Slow-Moving Inventory