Which of the Following Is an Auditor least Likely to Consider

question 49

Multiple Choice

Which of the following is an auditor least likely to consider a departure from U.S.generally accepted accounting principles?

• A)Valuing inventory at cost.
• B)Including in inventory items that are consigned out to vendors,but not yet sold.
• C)Using standard cost as the measure of inventory cost.
• D)Including in inventory items shipped subsequent to year-end,but for which valid orders did exist at year-end.

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Definitions:

Methyl α-cyanoacrylate

A compound known commonly as super glue; used as an adhesive due to its rapid polymerization properties.

Isobutylene

A volatile, flammable hydrocarbon gas, C4H8, used as a monomer in the production of various copolymers and as a fuel additive.

Styrene

An organic compound used in the production of polystyrene plastics and resins, characterized by its oily texture and sweet smell.

Polymerization Mechanism

A process by which monomer units are chemically bonded together to form polymer chains, governed by various types of reactions such as addition or condensation.