Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The auditor s objective was to verify that all inventory was reflected in the ending inventory balance. Which of the following would provide the most

The auditors objective was to verify that all inventory was reflected in the ending inventory balance. Which of the following would provide the most reliable evidence in support of this assertion and account?
Group of answer choices
Recalculation of the extensions and sums in the final inventory listing
Confirmation of consignment inventory with consignees
Analytical procedures comparing last years balance to the current year
Scanning the final inventory listing for unusual items or balances

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Budgeting Auditing And Evaluation Functions And Integration In Seven Governments

Authors: Andrew Gray

1st Edition

0765807246, 9780765807243

Students also viewed these Accounting questions