The Auditor May Discover That the Recorded Cost of Inventory

question 78

Multiple Choice

The auditor may discover that the recorded cost of inventory exceeds the designated market price when testing which assertion?

• A)Existence.
• B)Cutoff.
• C)Valuation.
• D)Rights.

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Definitions:

Table Datasheet View

A display format in a database application that shows data in rows and columns, resembling a spreadsheet.

Hyperlink

A clickable link used in electronic documents or webpages that directs the user to a new location or triggers an action when clicked.

Web Addresses

URLs that specify the location of a resource on the internet.

AutoNumber

A data type used in databases that automatically generates a unique number for each new record added, often used as a primary key.