Which of the Following Is Not an Item Reviewed by the Auditor

question 97

Multiple Choice

Which of the following is not an item reviewed by the auditor to test the client's assertion related to the presentation and disclosure of inventory?

• A)The inventory valuation methods used.
• B)The amount of obsolete inventory on hand.
• C)The existence of contingent losses associated with long-term purchase commitments.
• D)The classification of inventory as raw material,work in process or finished goods.

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Definitions:

Time Required

refers to the duration needed to complete a specific task or project, including all necessary steps from initiation to completion.

Messaging

Messaging involves the creation and sharing of content to communicate with audiences, typically through written, visual, or digital means.

Publics

Groups of people that an organization identifies as its audience or stakeholders in various contexts.

Issues

Topics or problems under consideration or dispute, which may impact an organization or individual’s reputation and require management or resolution.