From Which of the Following Evidence-Gathering Audit Procedures Would an Auditor

question 106

Multiple Choice

From which of the following evidence-gathering audit procedures would an auditor obtain most assurance concerning the existence of inventories?

• A) observation of physical inventory counts
• B) written inventory representations from management
• C) confirmation of inventories in a public warehouse
• D) auditor's recomputation of inventory extensions

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Definitions:

Evolving Job Market

The ongoing change and adaptation in the job market, reflecting new industries, technologies, and employment practices.

Awareness

The knowledge or perception of a situation or fact, often highlighting the importance of being conscious or informed about something.

Familiarity

The state of being well-known or easily recognized due to repeated exposure or experience.

Processor Speeds

The rate at which a computer's CPU executes instructions, typically measured in gigahertz (GHz), indicating billions of cycles per second.