If Controls Over Production Accounting Are Found to Be Strong,an

question 24

Multiple Choice

If controls over production accounting are found to be strong,an auditor can plan to do less testing over ________.

• A)the existence assertion of inventory
• B)the valuation assertion of inventory
• C)the completeness assertion of inventory
• D)the rights assertion over inventory

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Definitions:

High-Tech Business Products

Products that incorporate the latest technology or are based on high-level scientific research, aimed at the business market.

New

Not existing before; made, introduced, or discovered recently or now for the first time.

Unique

Being the only one of its kind; unlike anything else, often used to describe distinctive features or qualities.

Premium Approach

A strategy in marketing or sales where products or services are presented as high-quality or luxury options, often at a higher price point.