If Attendance at Physical Inventory Counting Is Impracticable,the Auditor Must

question 75

Multiple Choice

If attendance at physical inventory counting is impracticable,the auditor must

• A)identify the locations of the inventory and amounts of inventory at each location.
• B)evaluate whether the involvement of specialists is needed.
• C)use alternative audit procedures to obtain sufficient appropriate evidence regarding the existence and condition of the inventory.
• D)review the client's plans for taking inventory,including the process to count,control inventory tags or count sheets,the procedures for identifying obsolete items during the count,procedures for controlling the movement of inventory during the count,and the procedures for controlling shipping and receiving during the count.

Recognize the conditions under which superstars emerge in different markets.

Assess the relationship between labor demand and supply in setting the equilibrium wage.

Understand the factors leading to wage discrimination and its effects on labor market outcomes.

Discuss the difficulty in accurately measuring the effect of discrimination on wages.

---

Definitions:

Opposition

Refers to resistance or dissent in various forms against established authority or a prevailing form of governance, policy, or standpoint.

Yom Kippur War

A conflict that took place in 1973 between Israel and a coalition of Arab states led by Egypt and Syria, marked by its surprise attack on Israel during the Yom Kippur holiday.

Suez Canal

A man-made waterway in Egypt, opened in 1869, connecting the Mediterranean Sea to the Red Sea, and significantly shortening the travel distance between Europe and Asia.

Palestinian Liberation

The movement aiming to achieve the freedom and independence of Palestine from Israeli control.