From the Auditor's Point of View,inventory Counts Are More Acceptable

question 8

Multiple Choice

From the auditor's point of view,inventory counts are more acceptable prior to the year-end when:

• A)Internal control is weak.
• B)Accurate perpetual inventory records are maintained.
• C)Inventory is slow-moving.
• D)Significant amounts of inventory are held on a consignment basis.

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Definitions:

Continent-continent Convergence

A tectonic process involving the collision of two continental plates, typically resulting in the formation of mountain ranges.

Continental Collision

The process by which two continental tectonic plates come together, leading to mountain building and seismic activity.

Transform Fault

A type of fault where two tectonic plates slide past each other horizontally, often associated with significant seismic activity.

Continental Rifting

The process where a continent stretches and splits along a rift, often leading to the formation of a new ocean basin.