An auditor selected an inventory item on the warehouse floor,test counted it,and traced the count to the final inventory compilation.The auditor most likely was testing the PCAOB assertion of
A) Existence.
B) Valuation.
C) Completeness.
D) Rights and obligations.
Correct Answer:
Verified
Q1: An auditor who wished to test for
Q2: At the completion of the physical inventory,the
Q3: The Bill of Materials provides pricing information
Q4: Cost accounting is responsible for reconciling inventory
Q5: L.Martinez,CPA,was auditing a client,Marvelous Retail Company and
Q7: Inventory observation must be observed if inventory
Q8: If control risk is assessed high,cost accumulations
Q9: The sales forecast is the document that
Q10: Inventory that is not used to produce
Q11: Items held on consignment with another company
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents