This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: 21-17 A – The storekeeping function were to be combined with production nd recorded keeping. B – Forwarded to the receiving department C – Maintain a perpetual inventory master file of the only the more valuable items with frequent periodic verification of the validity of the perpetuals. 21-18 A – Cost has been correctly assigned to finish goods, work-in-process, and cost of goods sold. B – Receiving report C – Inspect documents 21-19 A – Review of perpetual inventory master file B – The existence of obsolete merchandise C – Percentage of slow-moving inventory items. 24-22 A - An inquiry directed to legal confirmation B – An estimate of when the matter will be resolved. C- Take no action regarding the event. 24-23 A – Remind management of its primary responsibility for financial statements. B – Date of auditor’s report C – A scope limitation sufficicient to prelude an unqualified opinion 24-27...
View Full Document
This note was uploaded on 10/28/2011 for the course AUDITING auditing taught by Professor Auditing during the Spring '11 term at Keller Graduate School of Management.
- Spring '11