The classic inventory fraud includes an overstatement of ending inventory. (T/F)

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The classic inventory fraud includes an overstatement of ending inventory.

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Auditing A Risk Based Approach

ISBN: 9780357721872

12th Edition

Authors: Karla M Johnstone-Zehms, Audrey A. Gramling, Larry E. Rittenberg

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Question Posted: Sep 22, 2023 03:22 PM

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A classic inventory fraud involves management understating ending inventory, thereby yielding a reduction in cost of goods sold and an overstatement of profitability. (T/F)
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The classic inventory fraud includes an overstatement of ending inventory. (T/F)

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Auditing A Risk Based Approach

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