When Part of the Client's Inventory Is in a Public

question 11

True/False

When part of the client's inventory is in a public warehouse or in the possession of other outside custodians, the auditor does not need to observe a physical count of the inventory if a written confirmation is obtained directly from the inventory custodians.

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Definitions:

Cardiovascular System

The body system comprising the heart and blood vessels, responsible for circulating blood to deliver oxygen and nutrients to tissues.

Lymphatic System

A network of tissues and organs that help rid the body of toxins, waste, and other unwanted materials, primarily involved in transporting lymph, a fluid containing infection-fighting white blood cells.

Nonencapsulated

Refers to tissues or structures not enclosed in a protective capsule.

MALT

Mucosa-associated lymphoid tissue, a component of the immune system that works to protect the mucous membranes lining the digestive, respiratory, and urogenital tracts.