Multiple Choice
A common inventory observation procedure is to select a random sample of tag numbers and identify the tag with that number attached to the actual inventory item. The audit objective being achieved by this procedure is
A) inventory as recorded on tags actually exists (existence) .
B) existing inventory is counted and tagged (completeness) .
C) inventory is counted accurately (accuracy) .
D) inventory is classified correctly (classification) .
Correct Answer:
Verified
Correct Answer:
Verified
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