Question: While performing audit procedures to test the client's ending inventory account balances, the auditor traces a sample of prenumbered inventory tags to the physical inventory
While performing audit procedures to test the client's ending inventory account balances, the auditor traces a sample of prenumbered inventory tags to the physical inventory report sheets. Which of the following main assertions would this audit procedure most likely be testing?
A Existence and occurrence.
B Cutoff.
C Completeness.
D Valuation, allocation, and accuracy.
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