Multiple Choice
The audit procedures used in an observation of the client's physical inventory taking are designed primarily to
A) test and observe the client's physical count of inventory.
B) verify independently the physical counts obtained by the client.
C) assist the client in taking test counts of year-end inventory.
D) determine whether inventory contains obsolete goods.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: The physical observation procedures for inventory are
Q2: To gain assurance that all inventory items
Q4: Which of the following steps would not
Q5: An auditor reviews job cost sheets to
Q6: Auditors _ the inventory taking and make
Q7: Production planning interacts with the preparation of
Q8: When testing a company's cost accounting system,
Q9: The tests of controls for inventory records
Q10: An auditor's observation procedures for inventory may
Q11: Which of the following is the assertion