An Auditor Using Audit Software Would Probably Be Least Interested

question 11

Multiple Choice

An auditor using audit software would probably be least interested in which of the following fields in a computerised perpetual inventory file?

• A)Quantity sold.
• B)Date of last purchase.
• C)Warehouse location.
• D)Economic order quantity.

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Definitions:

Marginal Cost

The boost in complete costs associated with creating one more unit of a product or service.

Private Good

A product that is excludable and rival in consumption, meaning its use is limited to the purchaser and it cannot be shared without diminishing availability to others.

Rivalry

Competition or contention between two or more parties for a goal that only one can attain.

Excludability

A characteristic of a good according to which it is possible to prevent people who have not paid for the good from consuming it.