Multiple Choice
Which analytical procedures will help an auditor identify possible misstatements in compilation,unit costs,or extensions that affect inventory and cost of goods sold?
A) comparing gross margin percentage with previous years
B) comparing unit costs of inventory with previous years
C) comparing inventory turnover with previous years
D) comparing extended inventory value with previous years
Correct Answer:

Verified
Correct Answer:
Verified
Q2: Cost accounting controls are those related to
Q3: The auditor's tests of the adequacy of
Q4: A public accountant observes his client's physical
Q5: When a physical count of inventory is
Q6: If the auditor is appointed after the
Q8: Master files,worksheets,and reports that accumulate material,labour,and overhead
Q9: A common inventory observation procedure is to
Q10: The client has a perpetual inventory system,and
Q11: Reconciling the open production cost reports to
Q12: A useful starting point for becoming familiar