Comparing the Physical Counts with the Perpetual Inventory Master Files

question 132

Multiple Choice

Comparing the physical counts with the perpetual inventory master files satisfies the balance-related audit objective of

• A) classification.
• B) observation.
• C) completeness.
• D) accuracy.

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Definitions:

Lactase Retention

The continued production of the enzyme lactase into adulthood, allowing for the digestion of lactose found in milk; varies genetically among populations.

Herding

The practice of raising and managing groups of domesticated animals, often large herds of livestock, moved from place to place to graze on pasture.

Fishing

The act of catching fish from water bodies like rivers, lakes, or the ocean, either for sustenance, sport, or commercial purposes.

Foraging

The act of searching wide areas for food or provisions, typical of hunter-gatherer societies.