Which One of the Following Assertions Regarding an Inventory of Ski

Multiple Choice

Which one of the following assertions regarding an inventory of ski equipment for Matterhorn,Inc.would be considered an incorrect statement?

A) The inventory exists at the balance sheet date.
B) The inventory is owned by Matterhorn.
C) Footnote disclosures concerning inventory are not required given the objective nature of this account.
D) The inventories are properly valued.