In Regards to Physical Inventory Counts and Valuations,it Is Not

question 13

Multiple Choice

In regards to physical inventory counts and valuations,it is not unusual

• A)to use inventory counts to be able to journalize sales.
• B)for firms to choose fiscal accounting periods to end when inventory levels are high.
• C)to count inventory when inventory levels are high.
• D)to count inventory twice per week.
• E)for external auditors to use experts.

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Definitions:

Confidence Interval

A collection of estimations, from sample-derived statistics, considered to likely house the unrevealed value of a population parameter.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, represented as the square root of the variance.

Population Mean

The mean of every number within a group.

Confidence Interval

A pool of values, from the statistical study of samples, presumed to envelop the covert figure of a population characteristic.