Which of the Following Inventory Frauds Is Not Identified by Practice

question 12

Multiple Choice

Which of the following inventory frauds is not identified by Practice Alert No.94-2: Auditing Inventories--Physical Observations.

• A)double-counting inventory
• B)counting obsolete inventory
• C)including inventory for which the corresponding payable has not been recorded
• D)employee theft of inventory item having high sales volume

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Definitions:

Dissociative Amnesia

A psychological condition characterized by memory loss that cannot be attributed to normal forgetfulness, often related to traumatic or stressful experiences.

Semantic Memories

A type of long-term memory involving the capacity to recall words, concepts, or numbers, which is essential for the use and understanding of language.

Procedural Memories

Memories of motor skills and habits that are performed without conscious thought, such as riding a bike or typing on a keyboard.

Personal Memories

Refers to an individual's recollections of past experiences or events that are unique to their own life history.