Auditing and Assurance Services 9th Edition by Alvin Arens,Mark Beasley,Randy Elder

Exercise 19

When auditing merchandise inventory at year-end, the auditor performs a purchase cutoff test to obtain evidence that
A) All goods purchased before year-end are received before the physical inventory count.
B) No goods held on consignment for customers are included in the inventory balance.
C) Goods observed during the physical count are pledged or sold.
D) All goods owned at year-end are included in the inventory balance.