Which of the Following Management Assertions Is an Auditor Most

question 1

Multiple Choice

Which of the following management assertions is an auditor most likely testing if the audit objective states that all inventory on hand is reflected in the ending inventory balance?

• A)The entity has rights to the inventory.
• B)Inventory is properly valued.
• C)Inventory is properly presented in the financial statements.
• D)Inventory is complete.

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Definitions:

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White Lead

A toxic, white pigment historically used in paint, now largely replaced due to its toxicity.

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The period in English history marked by the reign of Queen Elizabeth I, from 1558 to 1603, noted for its flourishing arts, exploration, and literature.

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