Based on conversations with the owner -manager of an audit client, the auditor ascertained that the...
Based on conversations with the owner -manager of an audit client, the auditor ascertained that the company's primary motivation is to avoid paying income taxes. Based on this motivation, which account balance assertion for ending inventory will the auditor be most concerned about verifying?
Select one:
a. Completeness
b. Existence or occurrence
c. Observation
d. Rights and obligations
Homework Answers
| Completeness assertion for ending inventory will the auditor be most concerned about verifying. |
| Completeness assertion ensures that all transactions have been properly recorded and their effects are properly reflected in financial statements. |
| Completeness assertion will verify that all purchases have been recorded and ending inventory is not understated to avoid paying income taxes. |
| Option A completeness is correct |
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