Question: 1. An auditor selected a product maintained in the finished goods Warehouse. The auditor counted the product and compare this amount what the amount in

1. An auditor selected a product maintained in the finished goods Warehouse. The auditor counted the product and compare this amount what the amount in the finished goods Perpetual inventory subsidiary account. Which a SB balance assertion is the auditor most likely testing?
a. existence
b. completeness
c. rights and obligations
d. valuation

2. An auditor selected a product recorded in the finished goods Perpetual inventory subsidiary account. the auditor went to the warehouse and counted the product and compare this amount with the amount in the finished goods Perpetual inventory subsidiary account. which ASB balance assertion is the otter most likely testing?
a. existence
b. completeness
c. rights and obligations
d. valuation

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