An Auditor Selected Items from the Client's Detailed Inventory Listing

Multiple Choice

An auditor selected items from the client's detailed inventory listing (that agreed to the financial statements) . During the physical inventory observation, the auditor then found each item selected and counted the number of units on hand. Assuming that the amount on hand was the same as the amount in the client's detailed inventory listing, this procedure most likely would provide evidence concerning management's assertion of:

A) completeness.
B) valuation.
C) presentation and disclosure.
D) existence.
E) rights and obligations.