The client received and recorded a large shipment of inventory on January 3rd that was shipped FOB

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The client received and recorded a large shipment of inventory on January 3rd that was shipped FOB shipping point on December29th. How should the auditor account for this in the search for unrecorded liabilities?

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Integrated Audit Practice Case

ISBN: 9780912503356

5th Edition

Authors: David S. Kerr, Randal J. Elder, Alvin A. Arens

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Question Posted: Aug 29, 2023 02:57 AM

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The client received and recorded a large shipment of inventory on January 3rd that was shipped FOB

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In the search for unrecorded liabilities the auditors main objective is to ensure that all liabilities especially those not yet recorded in the financ...View the full answer

Integrated Audit Practice Case

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