In an Audit of Inventories, an Auditor Would Least Likely

question 38

Multiple Choice

In an audit of inventories, an auditor would least likely verify that:

• A)all inventory owned by the entity is on hand at the time of the count.
• B)the entity has used proper inventory pricing.
• C)the financial statement presentation of inventories is appropriate.
• D)damaged goods and obsolete items have been properly accounted for.

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