Multiple Choice
From which one of the following evidence-gathering audit procedures would an auditor obtain most assurance concerning the existence of inventories?
A) written inventory representations from management
B) confirmation of inventories in a public warehouse
C) observation of physical inventory counts
D) auditor's recomputation of inventory extensions
Correct Answer:

Verified
Correct Answer:
Verified
Q30: The test of transactions, which requires 'compare
Q31: Which one of the following internal accounting
Q32: When labour is a significant part of
Q33: When the client's physical inventory takes place
Q34: The auditor should be satisfied that acquisitions
Q36: From an audit point of view, which
Q37: Perpetual inventory master files maintained by persons
Q38: A purchase order is often used to
Q39: What is the most important factor related
Q40: Which items should auditors select when testing