An Auditor Selected Items That Are on the Store Floor

question 54

Multiple Choice

An auditor selected items that are on the store floor for test counts while observing a client's physical inventory.The auditor then traced the test counts to the client's inventory listing.This procedure most likely obtained evidence concerning management's assertion of:

• A)rights and obligations.
• B)completeness.
• C)existence.
• D)valuation and allocation.

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Definitions:

Nitrogenous Wastes

Waste products containing nitrogen that result from the metabolism of proteins and nucleic acids, such as urea and ammonia.

Urinary System

The body's drainage system for the removal of urine, comprised of the kidneys, ureters, bladder, and urethra.

Vena Cava

A large vein carrying deoxygenated blood into the heart; divided into the superior and inferior vena cava.

Aorta

The largest artery in the body, originating from the left ventricle of the heart and extending down to the abdomen.