Question: When auditing merchandise inventory at year-end, the auditor performs a purchase cutoff test to obtain evidence that A All goods owned at year-end are included
When auditing merchandise inventory at year-end, the auditor performs a purchase cutoff test to obtain evidence that
| A | All goods owned at year-end are included in the inventory balance |
| B | Goods observed during the physical count are pledged or sold |
| C | All goods purchased before year end are received before the physical inventory count |
| D | No goods held on consignment for customers are included in the inventory balance |
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