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:

Leadership

The process of influencing the activities of an organized group toward goal achievement, requiring a combination of personality traits, managerial skills, and strategic vision.

Policies

Principles, rules, or guidelines formulated or adopted by an organization, government, or individual to achieve a desired outcome.

Representative Democracy

A system of government where citizens elect representatives to make decisions on their behalf.

Government Officials

Individuals who hold positions of authority in government organizations, responsible for implementing and enforcing laws, policies, and administrative functions.