Which of the Following Is Not a Standard Procedure That

question 35

Multiple Choice

Which of the following is not a standard procedure that the auditor normally should follow in the observation of inventory at year-end?

• A)Observe the client taking inventory.
• B)Make selected test counts and trace into client's inventory compilation.
• C)Look for slow-moving,obsolete,or damaged inventory.
• D)Review disclosure of inventory valuation.

Grasp the theoretical frameworks explaining capital structure choices and their impact on firm valuation.

Recognize the role of homemade leverage and its implications on investors' portfolio decisions.

Understand the factors influencing the selection of a production facility location.

Grasp the use of technology in manufacturing, including computer-aided design (CAD) and computer-integrated manufacturing (CIM).

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Definitions:

Stereotypes

Oversimplified generalizations about groups of people that may lead to assumptions and judgments without regard for individual differences.

Stereotype

A widely held but fixed and oversimplified image or idea of a particular type of person or thing.

Ethnocentrism

The belief that one’s ethnic group is more normal than others; an emotional source of prejudice because of people’s gut-level feelings about how right their group is—and, in turn, how wrong they think other groups are.

Attitudes

Mental states or orientations that reflect the evaluations, feelings, and propensities toward aspects of our environment, such as people, objects, and ideas.