Which of the following is an auditor least likely to consider a departure from U.S. generally accepted accounting princi
Posted: Thu May 19, 2022 2:25 pm
Which of the following is an
auditor least likely to
consider a departure from U.S. generally accepted accounting
principles?
Multiple Choice
Valuing inventory at cost.
Including in inventory items that are consigned out to vendors,
but not yet sold.
Using standard cost as the measure of inventory cost.
Including in inventory items shipped subsequent to year-end, but
for which valid orders did exist at year-end.
auditor least likely to
consider a departure from U.S. generally accepted accounting
principles?
Multiple Choice
Valuing inventory at cost.
Including in inventory items that are consigned out to vendors,
but not yet sold.
Using standard cost as the measure of inventory cost.
Including in inventory items shipped subsequent to year-end, but
for which valid orders did exist at year-end.