Multiple Choice
Management often uses internal controls in the inventory process
A) Because the inventory process is highly susceptible to fraud.
B) Because this makes evidence gathering easier for the auditor.
C) Due to the large number of transactions in the process.
D) This statement is not true.Management does not use internal controls in the inventory process.
Correct Answer:
Verified
Correct Answer:
Verified
Q89: Assuming that internal controls are in place
Q90: The auditor performs the following procedures in
Q91: Primal Elements,Inc is a new company that
Q92: The disclosures related to the financial statements
Q93: The appropriate journal entry for the transactions
Q95: Automated inventory systems may be used to
Q96: If the inventory count is done at
Q97: The balance sheet for BCS,Inc.for December
Q98: The client may use a variety of
Q99: On the balance sheet,the inventory process includes