This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following is an accurate statement regarding the audit of pricing and compilation of inventory? (Read 50 times)

camac77

  • Full Member
  • ***
  • Posts: 139
on: Aug 21, 2022

Question 1

The test of details of balance procedure which requires the auditor to perform tests of lower of cost or market, selling price, and obsolescence is an attempt to satisfy the objective of
◦ existence.
◦ completeness.
◦ accuracy.
◦ realizable value.

Question 2

Which of the following is an accurate statement regarding the audit of pricing and compilation of inventory?
◦ Inventory compilation tests include all of the tests of the client's unit prices to determine whether they are correct.
◦ The review for obsolete inventory should be performed by the accounting department.
◦ The most important internal control for accurate unit costs is external verification by an outside consultant.
◦ Inventory compilation internal controls are needed to ensure that the physical counts are correctly summarized and priced.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by camac77 on Aug 21, 2022

queenBea90

  • Full Member
  • ***
  • Posts: 171
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.
Answer Preview
Only 39% of students answer this correctly


camac77

  • Member
  • Posts: 139
Reply 2 on: Aug 21, 2022
Gracias!

brbarasa

  • Member
  • Posts: 308
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Example of an Explanation of Benefits statement. Example of an Explanation of Benefits statement.
Example of Reconciling a Bank Statement Cont. Example of Reconciling a Bank Statement Cont.
Example of Reconciling a Bank Statement Cont. Example of Reconciling a Bank Statement Cont.
This depiction breaks stereotypes, but is historically accurate. Shown here is an Iroquois fort. Can ... This depiction breaks stereotypes, but is historically accurate. Shown here is an Iroquois fort. Can ...
Manage First: Inventory and Purchasing Manage First: Inventory and Purchasing
An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ... An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ...
Video: Mechanisms of capillary exchange (transcytosis & bulk flow)

For a complete list of videos, visit our video library