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7. After an auditor has performed test counts of inventory during physical inventory count observation, the auditor traced the tests counts to the client's inventory

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7. After an auditor has performed test counts of inventory during physical inventory count observation, the auditor traced the tests counts to the client's inventory listing, and then to th perpetual inventory records. This TOB procedure concerns the management's assertion of a. rights and obligation. b. existence or occurrence. c. completeness. d. valuation or allocation

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