Which of the Following Is Not a Standard Procedure That

question 3

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.
• E)all of the above are standard audit procedures in the observation of inventory.

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Definitions:

CIO

Congress of Industrial Organizations, a federation of unions that organized workers in industrial unions in the United States and Canada from 1935 until its merger with the AFL in 1955.

Operation Dixie

A campaign launched by the Congress of Industrial Organizations in the 1940s aimed at unionizing industrial workers across the Southern United States, facing considerable resistance.

CIO

Congress of Industrial Organizations, an federation of unions that organized workers in industrial unions in the United States and Canada from 1935 until 1955.

Interracial Workforce

A workforce composed of employees from various racial backgrounds working together in a professional environment.