Multiple Choice
Which of the following steps would not normally be included in a program for a physical inventory observation?
A) Vouch unit prices to vendors' invoices or other cost records.
B) Obtain the client's inventory counting instructions and review them for completeness.
C) Inspect the tags used and unused and record the tag numbers used.
D) Obtain the numbers of the last five receiving reports and last five shipping documents.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: The physical observation procedures for inventory are
Q2: To gain assurance that all inventory items
Q3: The audit procedures used in an observation
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