After Accounting for a Sequence of Inventory Tags,an Auditor Traces

question 57

Multiple Choice

After accounting for a sequence of inventory tags,an auditor traces a sample of tags to the physical inventory listing to obtain evidence that all items:

• A)Included in the listing have been counted.
• B)Represented by inventory tags are included in the listing.
• C)Included in the listing are represented by inventory tags.
• D)Represented by inventory tags are bonafide.

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Definitions:

ADR

Alternative Dispute Resolution refers to a range of processes that help parties resolve disputes without going to trial.

Resolution Of Dispute

The process by which conflicts are resolved, through negotiation, mediation, arbitration, or legal proceedings.

Less Control

A situation in which an individual or entity has diminished influence or authority over management decisions, often in the context of business ownership or investments.

Wherewithal

The means, resources, or money necessary to accomplish a task or to achieve a specific purpose.