Which of the Following Is Not a Procedure That the Auditor

question 18

Multiple Choice

Which of the following is not a procedure that the auditor should perform related to the physical inventory count?

• A)Document the first and last tag numbers used.
• B)Take notations of all items that appear to be obsolete or are in questionable condition.
• C)Make counts of all items and record the counts for subsequent tracing into the client's inventory compilation.
• D)Observe whether there is any physical movement of goods during the counting of the inventory.

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Definitions:

Adults Employed

The portion of the working-age population that is currently employed in the labor market.

Adults Unemployed

Individuals of working age who are without work, but are available for and seeking employment.

Adults Not in the Labor Force

Individuals over the working age who are neither employed nor actively seeking employment.

Labor Force

The total number of people, including both the employed and the unemployed, who are actively seeking employment.