11-31 LO 8 Which of the following auditing procedures would be used
to test the existence or occurrence assertion for inventory?
a. Perform year-end cutoff tests by noting the last shipping and receiving document numbers used before physical inventory is taken.
b. Make inquiries of the client regarding the segregation of duties between the purchasing department and the receiving department.
c. Review the client’s proposed physical inventory procedures to determine whether they are likely to result in a complete and correct physical inventory.
d. Make inquiries of the client regarding allowances made for expected returns.
e. All of the above.