Which of the following control objectives is achieved by reviewing and testing c

Question

Which of the following control objectives is achieved by reviewing and testing control procedures over physical inventory count? A. Authorization of the manufacturing orders. B. Validation of purchase transactions. C. Verification of existence of inventory. D. Posting and summarization of inventory transactions. Which of the following control objectives is achieved by reviewing and testing control procedures over physical inventory count? A. Authorization of the manufacturing orders. B. Validation of purchase transactions. C. Verification of existence of inventory. D. Posting and summarization of inventory transactions.

Explanation / Answer

Verification of existence of inventory is achieved by reviewing and testing control procedures over physical inventory count Option C is correct

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