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:

Cornea

The transparent front part of the eye that covers the iris, pupil, and anterior chamber, contributing to the eye's focusing power.

Visual Migraine

A neurological syndrome that can cause visual disturbances such as temporary blindness, blurred vision, or light flashes.

Flashes

Sudden, brief bursts of light or heat, or referring to hot flashes, which are sudden feelings of warmth, often associated with menopause.

Floaters

Floaters are small pieces of debris in the eye's vitreous humor that appear as floating spots in one's field of vision, often resulting from age-related changes.