Which of the Following Would the Auditor Most Likely Do

question 95

Multiple Choice

Which of the following would the auditor most likely do when testing the existence assertion for inventory?

• A)Observe the client's count of the annual physical inventory and test count.
• B)Review vendor invoices for the amounts recorded.
• C)Perform year-end tests of invoices received in the final month.
• D)Trace raw material purchases to invoices and to the general ledger.

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Definitions:

Services Produced

The output of economic activities that provide intangible benefits or fulfill needs, such as education, healthcare, and entertainment.

Indigenous Peoples

Refers to the original inhabitants of a given region or country, who have distinct cultural, social, and historical identities, often maintaining practices and traditions that predate colonial influences.

World Council

A global organization or assembly aimed at addressing, discussing, and solving world issues.

Indigenous Peoples

Ethnically distinct groups that have maintained traditional ways of living, often connected to specific territories prior to colonization or modern state formation.