You Are Gathering Evidence for the Audit Objective That Existing

question 52

Multiple Choice

You are gathering evidence for the audit objective that existing inventory items are included in the inventory listing schedule.The audit procedure that would provide you with the best evidence to confirm this objective is:

• A)trace from inventory tags to the inventory listing schedule and make sure the inventory tag is included.
• B)trace the inventory totals to the general ledger.
• C)perform tests of lower-of-cost-or-market.
• D)account for unused tags shown in the auditor's documentation to make sure no tags have been added.

---

Definitions:

Multiple Intelligences

A theory proposed by Howard Gardner, suggesting that intelligence is not a single entity but a plurality of eight different kinds of intelligences, including linguistic, logical-mathematical, and spatial.

Violinist

A musician who plays the violin, a four-stringed instrument played with a bow.

Written Assignments

Refers to tasks given to students that involve writing texts, essays, reports, or analyses on specific topics to demonstrate their understanding and knowledge in a subject area.

Creativity Tests

Assessments designed to measure a person's ability to think outside the box and generate innovative ideas.