Rather Than Counting the Entire Inventory at Year-End, a Company

question 39

Multiple Choice

Rather than counting the entire inventory at year-end, a company may make periodic, or cycle counts, of selected inventory items at various times during the year. Which of the following is necessary if the auditor plans to observe inventories at interim dates?

• A) Complete recounts by independent teams are performed.
• B) Perpetual inventory records are maintained.
• C) Unit cost records are integrated with production accounting records.
• D) Inventory balances are rarely at low levels.

Analyze the effects of individualism versus collectivism on social behavior.

Grasp the concept of sociometer theory and its relation to self-esteem and exclusion.

Understand the mechanisms of coping and reaction to ostracism and rejection.

Distinguish between different social connection models and their significance.