An Auditor Most Likely Would Make Inquiries of Production and Sales

question 55

Multiple Choice

An auditor most likely would make inquiries of production and sales personnel concerning possible obsolete or slow-moving inventory to support management's financial statement assertion of:

• A)valuation.
• B)rights and obligations.
• C)existence.
• D)completeness.

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Definitions:

Jeep Tours

A type of adventurous tour or excursion that involves exploring locations using a jeep.

Guests

Individuals who are invited or visit a place where they do not live or work.

Wells Serviced

This refers to the number of oil or water wells that have undergone maintenance, repair, or other service activities within a specific timeframe.

Performance Report

A report that compares budgeted data to actual data to highlight instances of excellent and unsatisfactory performance.