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Author Question: When labor is a material factor in inventory valuation, the auditor should place special emphasis on ... (Read 27 times)

haydenjmcm

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on: Aug 21, 2022

Question 1

When examining payroll transactions, an auditor is primarily concerned with the possibility of
◦ incorrect summaries of employee time records.
◦ overpayments and unauthorized payments.
◦ under withholding of amounts required to be withheld.
◦ posting of gross payroll amounts to incorrect salary expense accounts.

Question 2

When labor is a material factor in inventory valuation, the auditor should place special emphasis on testing the internal controls concerning
◦ fictitious employees.
◦ authorization of wage rates.
◦ proper classification of payroll transactions.
◦ completeness of recorded transactions.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by haydenjmcm on Aug 21, 2022

GoldenBrown

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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haydenjmcm

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Reply 2 on: Aug 21, 2022
Great answer, keep it coming :)

JaynaD87

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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