Explain why a proper cutoff of purchases and sales is heavily dependent on the physical inventory observation.

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Explain why a proper cutoff of purchases and sales is heavily dependent on the physical inventory observation. What information should be obtained during the physical count to make sure that cutoff is accurate?

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Auditing and Assurance services an integrated approach

ISBN: 978-0132575959

14th Edition

Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley

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Question Posted: Oct 10, 2012 07:59 AM

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Explain why a proper cutoff of purchases and sales is heavily dependent on the physical inventory observation.

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Auditing and Assurance services an integrated approach

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