A Client's Inventory Is Recorded at $600,000 and Is Comprised

question 83

Multiple Choice

A client's inventory is recorded at $600,000 and is comprised of 1,000 items.The auditors examined a sample of items with a recorded balance of $100,000 and determined an audited value of $90,000.What is the estimated audited value for inventory?

• A)$90,000
• B)$540,000
• C)$590,000
• D)$666,666

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Definitions:

Dominant Responses

Refers to the most common or automatic actions people exhibit in performance situations, often enhanced by the presence of an audience.

Challenge Reaction

The response elicited when faced with a task or situation that is perceived as a test of one’s abilities or resources.

Threat Reaction

The emotional and behavioral response elicited when an individual perceives a threat to their security or well-being.

Social Image

The perception or view of an individual or entity by society, influenced by behavior, communication, and public actions.