1. Selecting a sample of cost accounting reports for labor and vouching it to time records is a procedure designed to test the ASB transaction assertion of
a. occurrence
b. valuation
c. completeness
d. presentation and disclosure

2. The audit procedure used in an observation of the clients physical inventory taking our designed primarily to
a. test and observe the client's physical count of inventory
b. verify independently the physical counts obtained by the client
c. assist the client and taking tests counts of year-end inventory
d. determine whether inventory contains obsolete goods

Answer rating: 100% (QA)

ANSWER 1 D presentation and disclosure Presentation and disclosure are the meta terms used to describe how information about assets liabilities equity ... View the full answer