When Conducting Fieldwork for a Physical Inventory, an Auditor Cannot

question 34

Multiple Choice

When conducting fieldwork for a physical inventory, an auditor cannot perform which of the following steps using a generalized audit software package?

• A) Observing inventory.
• B) Selecting sample items of inventory.
• C) Analyzing data resulting from inventory.
• D) Recalculating balances in inventory reports.

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Definitions:

Self-actualization

The realization or fulfilment of one's talents and potentialities, considered as a drive or need present in everyone.

Maslow

An American psychologist known for creating Maslow's hierarchy of needs, a theory in psychology that prioritizes human needs into a five-tier model of motivation.

Esteem Needs

In Maslow's hierarchy of needs, esteem needs are the fourth level, involving the human desire for respect, self-esteem, and recognition from others.

Maslow

An American psychologist best known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.