An Auditor, Having Accounted for a Sequence of Inventory Tags

question 34

Multiple Choice

An auditor, having accounted for a sequence of inventory tags, traces information on a representative number of tags to the physical inventory sheets.The purpose of this procedure is to obtain assurance that:

• A)inventory sheets do not include untagged inventory items.
• B)the final inventory is valued at cost.
• C)the inventory listed on the inventory sheets is complete.
• D)all inventory represented by an inventory tag is bona fide.

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Definitions:

Discrete Metric

A way of quantifying the difference between elements in a dataset where the data points are distinct and separate.

Counting

The action of determining the total number of objects or entities in a collection or group.

Workforce-focused

Pertaining to strategies, policies, or practices that are centered on the workforce, aiming to improve employee satisfaction, skill development, and productivity.

Leadership Development

A systematic approach to expanding the leadership abilities and skills of individuals within an organization or team.