An Auditor Concluded That No Excessive Costs for an Idle

question 20

Multiple Choice

An auditor concluded that no excessive costs for an idle plant were charged to inventory. This conclusion most likely related to the auditor's objective to obtain evidence about the financial statement assertions regarding inventory, including presentation and disclosure, and:

• A)valuation and allocation.
• B)completeness.
• C)existence.
• D)rights and obligations.

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Definitions:

Proportionately

In a way that keeps a correct or appropriate relationship in size, amount, or degree between parts of a whole.

Average Size

A statistical measure that summarizes the central tendency of the size dimensions of a given set of objects or beings.

Experimental Setting

The controlled environment in which scientific or psychological experiments are performed, ensuring the validity of data collection.

DNA Sequencing

The process of determining the precise order of nucleotides within a DNA molecule, helping to identify genetic information.