Which of the following management assertions is an...

Auditing Practice Questions Test 1 (Chapters 1-4) Test

Question Number 6

Which of the following management assertions is an auditor most likely testing if the audit objective states that all inventory on hand is reflected in the ending inventory balance?

A) The entity has rights to the inventory

B) Inventory is properly valued

C) Inventory is properly presented in the financial statements

D) Inventory is complete

✔ Correct Answer:

D) Inventory is complete

Related questions :

The audit objective that all transactions and accounts that should be presented ...
Cutoff tests designed to detect purchases made before the end of the year that h...
During an audit of an entity's stockholders' equity accounts, the auditor determ...
The confirmation of an account payable balance selected from the general ledger ...
What type of evidence would provide the highest level of assurance in an attesta...
An auditor traces the serial number on equipment to a nonissuer's sub-ledger. Wh...
Which of the following is not related to ethical requirements of auditors?

Prepare for nursing and certification exams with Naclex . Get access to real exam questions and answers, comprehensive study guides, and expert tips to excel in your exams. Start your journey to success today

Terms and Conditions

Auditing Practice Questions Test 1 (Chapters 1-4) Test

Question Number 6

Count Down:

Related questions :