Which of the Following Circumstances Is Not a Reason to Compute

question 12

Multiple Choice

Which of the following circumstances is not a reason to compute an estimate of the amount of inventory?

• A)To evaluate the accuracy of a physical count of goods.
• B)To complete the company's annual income tax return.
• C)To prepare monthly or quarterly financial statements without incurring the expense of taking a physical inventory.
• D)To support an insurance claim for a loss due to theft of inventory.

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