Multiple Choice
Controls that provide a means of ensuring that the physical counts are properly summarized,priced at the same amount as the unit records,correctly extended and totalled,and included in the general ledger at the proper amount are known as
A) standard cost records.
B) pricing internal controls.
C) compilation internal controls.
D) count quantity internal controls.
Correct Answer:

Verified
Correct Answer:
Verified
Q65: The auditor would like to test the
Q66: The test of details of balance procedure
Q67: To detect an overstatement or understatement of
Q68: It is frequently possible to test the
Q69: The overall objective in the audit of
Q70: Describe the major risks of error or
Q71: Outline some examples of fraud-related procedures that
Q72: The auditor must verify whether the physical
Q73: Which of the following is correct relating
Q74: When considering pricing of inventory,three things are