In an Audit of Inventories, an Auditor Would Least Likely

question 53

Multiple Choice

In an audit of inventories, an auditor would least likely verify that

• A) All inventory owned by the entity is on hand at the time of the count.
• B) The entity has used proper inventory pricing.
• C) The financial statement presentation of inventories is appropriate.
• D) Damaged goods and obsolete items have been properly accounted for.

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