For Each of the Following, State Whether It Is a Test

question 34

Essay

For each of the following, state whether it is a test of details of account balances or a test of details of disclosures. Then note for which assertion the test provides evidence.
1. Inspect loan agreements under which an entity's inventories are pledged.
2. Review inventory compilation for proper classification among raw materials, work in process, and finished goods.
3. Observe the count of physical inventory.
4. Trace test counts and tag control information to the inventory compilation.
5. Inquire of management about issues related to LIFO liquidations.
6. Review book-to-physical adjustments for possible misstatements.

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Definitions:

Organizational Citizenship Behaviors

Voluntary actions by employees that contribute to the organization's effectiveness but are not directly part of their job descriptions.

Contextual Performance

Non-job-specific tasks, behaviors, and activities that contribute to organizational effectiveness, such as teamwork, interpersonal communication, and adaptability.

Job Embeddedness

The extent to which employees feel attached to their jobs and less likely to leave, influenced by factors like links to the community, fit with the job, and what they would have to sacrifice if they left.

Career Management

The ongoing process of preparing, implementing, and monitoring career plans undertaken by the individual alone or in concert with the organization’s career systems.