The Most Reliable Procedure for an Auditor to Use to Test

question 51

Multiple Choice

The most reliable procedure for an auditor to use to test the existence of a client's inventory at an outside location would be to:

• A)Observe physical counts of the inventory items.
• B)Trace the total on the inventory listing to the general ledger inventory account.
• C)Obtain a confirmation from the client indicating inventory ownership.
• D)Analytically compare the current-year inventory balance to the prior-year balance.

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Definitions:

Celiac Trunk

A major artery originating from the abdominal aorta that supplies blood to the stomach, spleen, liver, and other nearby organs.

Abdominal Aorta

The main artery running down the abdomen, supplying blood to the organs and tissues of the abdomen.

Thoracic Aorta

The portion of the aorta passing down through the thorax responsible for supplying oxygenated blood to the chest cage and the organs within the thorax.

Hepatic Artery

The major artery that supplies oxygenated blood to the liver, playing a critical role in liver function and metabolism.