An Auditor Selected Items for Test Counts While Observing a Client's

question 28

Multiple Choice

An auditor selected items for test counts while observing a client's physical inventory. The auditor then traced the test counts to the client's inventory listing. This procedure most likely obtained evidence concerning management's balance assertion of

• A)rights and obligations.
• B)completeness.
• C)existence.
• D)accuracy and valuation.

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Definitions:

Strikes

A refusal to work organized by a body of employees as a form of protest, typically in an attempt to gain a concession from their employer.

Federal Legislation

Laws passed by the national government or Congress of a country, particularly referring to the United States, that apply to all states and citizens within the country.

Minorities

Demographic groups that are smaller in number compared to the majority of the population, often facing different social, economic, or political circumstances.

V-E Day

May 8, 1945, the day World War Ⅱ officially ended in Europe.