To BEST Ascertain That a Company Has Properly Included Merchandise

question 75

Multiple Choice

To BEST ascertain that a company has properly included merchandise that it owns in its ending inventory, the auditor should review and test the:

• A) contractual commitments made by the purchasing department.
• B) purchase invoices received on or around year-end.
• C) purchase cutoff procedures.
• D) terms of the open purchase orders.

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