Which of the Following Is Not a PCAOB Assertion About

question 38

Multiple Choice

Which of the following is not a PCAOB assertion about inventory related to presentation and disclosure?

• A)Inventory is properly classified as a current asset on the balance sheet.
• B)Inventory is properly stated at its cost on the balance sheet.
• C)Major inventory categories and their valuation bases are adequately disclosed in notes.
• D)All of these are PCAOB presentation and disclosure assertions about inventory.

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