When Auditing Merchandise Inventory at Year-End,the Auditor Performs Audit Procedures

question 110

Multiple Choice

When auditing merchandise inventory at year-end,the auditor performs audit procedures to obtain evidence that no goods held on consignment are included in the client's ending inventory balance.This audit procedure provides assurance about which management assertion?

• A) Completeness.
• B) Existence.
• C) Valuation and allocation.
• D) Rights and obligations.
• E) Occurrence.

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Definitions:

Psychomotor Domain

Relates to physical movement, coordination, and the execution of motor skills, influenced by cognitive processing.

Manikin Practice Sessions

Training or educational exercises using a human-like models to simulate medical procedures or emergencies for learning purposes.

Patient Education

Informing and educating patients about their health conditions, treatments, and self-care practices to promote better health outcomes.

Satisfaction

The feeling of pleasure or fulfilment that comes from achieving or exceeding expectations.