Question
Your firm is auditing a wholesaler that sells slot machines to Las Vegas casinos. You are concerned that your client's inventory balance is understated. Which
Your firm is auditing a wholesaler that sells slot machines to Las Vegas casinos. You are concerned that your client's inventory balance is understated. Which of the below procedures best addresses your concern?
Question 3 options: Inspect and count inventory in the warehouse and then, check to see if the inventory counted is recorded in the accounting records. Inspect and count inventory recorded in the accounting records. Test internal controls related to the shipment of slot machines to customers. Test internal controls related to inventory accounting methods.
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