When the Client's Physical Inventory Occurs Before the Last Day

Multiple Choice

When the client's physical inventory occurs before the last day of the year, it is still necessary to perform an accounts payable cutoff at the time of the count. In addition, the auditor must verify whether all acquisitions taking place between the count and the end of the year were added to:

A) the physical inventory.
B) Accounts Payable.
C) Accounts Payable and Cost of Goods Sold.
D) the physical inventory and Accounts Payable.