To Gain Assurance That All Inventory Items in a Client's

question 2

Multiple Choice

To gain assurance that all inventory items in a client's inventory listing schedule are valid, an auditor most likely would trace

• A)inventory tags noted during the auditor's observation to items in the inventory listing schedule.
• B)inventory tags noted during the auditor's observation to items listed in receiving reports and vendors' invoices.
• C)items in the inventory listing schedule to inventory tags and the auditor's recorded count sheets.
• D)items in receiving reports and vendors' invoices to the inventory listing schedule.

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Definitions:

Nonmaterial Culture

Components of culture that consist of the intangible aspects, such as beliefs, practices, values, and norms.

Material Culture

Physical objects, resources, and spaces that people use to define their culture, including buildings, artwork, tools, and clothing.

Patterns of Behavior

Regular actions or reactions that occur in a predictable manner within a particular context or environment.

Ways of Thinking

The approaches, methods, and processes by which individuals conceptualize ideas, make decisions, and interpret the world around them.