Which of the Following Best Describes the Occurrence Assertion for Inventory

question 65

Multiple Choice

Which of the following best describes the occurrence assertion for inventory?

• A) Purchase requisitions initiated by authorized personnel.
• B) Recorded inventory actually exists.
• C) Inventory properly accumulated from journals and ledgers.
• D) All inventory is recorded.

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Definitions:

Variable Costs

Costs that vary directly with the level of production or volume of output.