Which of the Following Audit Objectives Relates Primarily to the Financial

Multiple Choice

Which of the following audit objectives relates primarily to the financial report assertion, rights and obligations?

A) Inventories are properly classified in the statement of financial position as current assets.
B) Inventories exclude items billed to customers or owned by others.
C) Slow-moving, excess, defective and obsolete items included in inventories are properly identified.
D) Inventory quantities include all products, materials and supplies owned by the company.