View Attempt 1 of 1
Title:
M13B
Started:
April 26, 2009 2:40 PM
Submitted:
April 26, 2009 3:21 PM
Time spent:
00:41:31
Total score:
7/10 = 70%
Total score adjusted by 0.0
Maximum possible score: 10
1.
Which of the following is a plausible explanation for a large increase in the number of days
outstanding in inventory?
Student
Response
Value
Correct Answer
Feedback
a. Obsolete
inventory
100%
b. New product line
where sales
exceed
production
0%
c. Manufacturing
overhead was not
allocated to the
production
process
0%
d. Manufacturing
salaries were
recorded as
administrative
expenses
0%
Score:
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2.
Which of the following is not one of the independent auditor's objectives regarding the
examination of inventories?
Value
%
Score:
0/1
3.
For several years a client's physical inventory count has been lower than what was shown on the
books at the time of the count so that downward adjustments to the inventory account were
required. Contributing to the inventory problem could be weaknesses in internal controls that led
to the failure to record some
Value
%
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- Spring '09
- Count von Count
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