Which One of the Following Procedures Would Not Be Appropriate

question 50

Multiple Choice

Which one of the following procedures would not be appropriate for the auditors in discharging their responsibilities concerning the client's physical inventories?

• A)Confirmation of goods in the hands of public warehouses.
• B)Supervising the taking of the annual physical inventory.
• C)Carrying out physical inventory procedures at an interim date.
• D)Obtaining written representation from the client as to the existence,quality,and dollar amount of the inventory.

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Definitions:

Least Squares Estimate

A method in regression analysis to estimate the coefficients by minimizing the sum of the squared residuals.

Population Slope

It refers to the slope of the line that best fits the entire population data in a regression model, representing the average change in the dependent variable for a one-unit change in the independent variable.

Sum Of Squared Residuals

The total value obtained by squaring each of the residuals (differences between observed and predicted values) and summing them all, commonly used in regression analysis.

Coefficient Of Determination

A measure, often represented as R^2, that indicates the proportion of the variance in the dependent variable predictable from the independent variable(s).