Multiple Choice
Which of the following is not an inherent risk associated with inventory?
A) Inventory accounts typically have a high volume of activity.
B) Inventory is easily transportable.
C) Inventory may become obsolete.
D) Inventory costing methods frequently change from one year to the next.
Correct Answer:

Verified
Correct Answer:
Verified
Q90: Valuation is the most complex assertion related
Q91: Understatement of either purchases or ending inventory
Q92: Which of the following would meet the
Q93: When a purchasing agent benefits personally by
Q94: An auditor reviews purchase contracts to assess
Q95: Which of the following is not an
Q96: The acquisition cycle begins with the receipt
Q97: Which of the following is not an
Q98: Management assertions for inventory and accounts payable
Q99: The internal control that requires that "checks