Possible cause of book-to-physical differences
Which of the following is least likely to be a possible cause of book-to-physical differences in inventory quantities?
a) Inventory cutoff errors.
b) Misapplication of LIFO.
c) Unreported scrap or spoilage.
d) Theft.
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Which of the following best explains the validity audit objectives for inventory?
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Which of the following is least likely to be the possible cause of book-to-physical differences in inventory quantities?
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