In Order for an Auditor to Test Valuation of a Client's

question 51

Multiple Choice

In order for an auditor to test valuation of a client's inventories, each of the following substantive tests of details of account balances are appropriate except:

• A) using computer-assisted auditing techniques, reperform calculations testing the mathematical accuracy of report extensions and batch aggregations.
• B) reperform calculations supporting decisions about inventory write-downs or write-offs.
• C) obtain documentation supporting amounts of obsolete or slow-moving inventory items.
• D) evaluate any changes made to the client's impairment policies in light of engineering and production information or other underlying assumptions.

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Definitions:

Different Courses

Refers to a variety of educational or training programs that cater to diverse learning objectives, skills, or interests.

Benchmarking

The process of comparing one's business processes and performance metrics to industry bests or best practices from other companies.

Incorporate

Refers to the process of legally declaring a company as a separate entity from its owners.

Staff Planners

Professionals or tools focused on optimizing workforce distribution to ensure that the right number of employees with the right skills are in the right place at the right time.