- This topic has 4 replies, 4 voices, and was last updated 12 years, 6 months ago by .
-
Topic
-
Which of the following procedures would be most appropriate for testing the completeness assertion as it applies to inventory?
Answer: Performing cutoff procedures for shipping and receiving.
Explanation.Performing cutoff procedures provides assurance that goods in transit (shipped or received) are appropriately included or excluded from inventory and this procedure is most appropriate for testing the completeness assertion.
I’m sorry this a little over my head right now. How do cutoff procedures used in this way assure that inventory received are eventually recorded?
AUD: 2/28/2013 - 86
FAR: 10/19/2013 - 83
REG: 1/6/2014 - 80
BEC: 2/27/2014 - 81
Viewing 4 replies - 1 through 4 (of 4 total)
Viewing 4 replies - 1 through 4 (of 4 total)
- The topic ‘Question about Completeness Assertion’ is closed to new replies.