ACCT241 Auditing CH9 Quiz

ACCT241 Auditing CH9 Quiz - Question 6 1 out of 1 points...

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Question 1 1 out of 1 points Inventory should be recorded when Answer Selected Answer: The company has title to it. Question 2 1 out of 1 points The overall production authorization starts with a Answer Selected Answer: Production plan. Question 3 1 out of 1 points Which of the following is not recognized by GAAP as appropriate for determining inventory cost? Answer Selected Answer: Standard costs. Question 4 1 out of 1 points The source of authorization for preparation of materials requisitions is Answer Selected Answer: Bill of materials.
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Question 5 1 out of 1 points Comparing material usage reports to raw material stores issue slips is a control to help insure which ASB transaction assertion? Answer Selected Answer: Occurrence.
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Unformatted text preview: Question 6 1 out of 1 points Responsibility for the physical inventory count lies with the Answer Selected Answer: Client. Question 7 1 out of 1 points Client's inventory instructions should include all the following except Answer Selected Answer: Question 8 1 out of 1 points Tracing a test count to the inventory compilations provides evidence for which ASB balance assertion? Answer Selected Answer: Completeness. Question 9 1 out of 1 points Hiring and firing employees is a function that should be performed by Answer Selected Answer: Personnel. Question 10 1 out of 1 points The record where the employee's income taxes payable are recorded is the Answer Selected Answer: Payroll register....
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ACCT241 Auditing CH9 Quiz - Question 6 1 out of 1 points...

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