Explain Briefly the Two Directions of Inventory Test Counts

question 2

Essay

Explain briefly the two directions of inventory test counts.
A.Basic transaction files to perpetual inventory records (completeness assertion).
B.Perpetual inventory records to the detail source documents (existence or occurrence assertion).

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Definitions:

Salaried Professionals

Individuals employed in a professional capacity on a salary basis, often not eligible for overtime and in positions requiring specialized knowledge or qualifications.

Multicultural Organizations

Organizations that recognize, celebrate, and integrate diversity from various cultures in their policies, practices, and workplace dynamics.

Pluralism

The coexistence of multiple groups or cultures within a society, recognizing and valuing diversity.

Inclusivity

The practice of ensuring equal access and opportunities for all, particularly for those who might be otherwise excluded or marginalized.