Each of the following procedures is a obtaining evidence regarding an assertion or internal control except: Inspecting physical inventory items for damage to obtain evidence regarding Valuation. Observing retail employees count cash in their registers and prepare a cashdrawer summary report. Inspecting manufacturing employees' timecards for supervisory approval of hours worked. Confirming accounts receivable to obtain evidence regarding Completeness. In most cases, tolerable misstatement will exceed performance materiality. True False