Which of the Following Is least Likely to Be Considered

question 59

Multiple Choice

Which of the following is least likely to be considered a risk assessment procedure?

• A)Observation of the physical count of inventory.
• B)Analytical procedures.
• C)Application of data analytical procedures.
• D)Inspection of receiving reports.

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Definitions:

Equivalent Units

A measure used in process costing that converts partially completed units into a number of fully completed units.

Production Cost

The direct and indirect expenses incurred to manufacture goods or provide services.

Equivalent Units

A concept in cost accounting used to denote the amount of work done on incomplete units, expressed in terms of fully completed units.

Physical Units

A measure of production output or inventory in terms of the actual number of units, as opposed to the cost or value of the units.