An Auditor Most Likely Would Make Inquiries of Production and Sales

question 56

Multiple Choice

An auditor most likely would make inquiries of production and sales personnel concerning possible obsolete or slow-moving inventory to support management's financial statement (PCAOB) assertion of

• A)Valuation or allocation.
• B)Rights and obligations.
• C)Existence or occurrence.
• D)Presentation and disclosure.

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Definitions:

Fever

A temporary increase in body temperature, often due to an illness, indicating an immune response to fight off infection.

2-Year-Old

A term describing a child who has reached the age of two, a stage often characterized by rapid growth, learning, and development.

Progressive Loss

A gradual decrease in function, quality, or quantity over time, often associated with health conditions or disease progression.

Presbycusis

Age-related hearing loss, gradually occurring as individuals get older, affecting the ability to hear higher frequencies first.