Examine the acquisitions of inventory


Response to the following questions:

1. It is less common to confirm accounts payable at an interim date than accounts receivable. Explain why.

2. Distinguish between FOB destination and FOB origin. What procedures should the auditor follow concerning acquisitions of inventory on an FOB origin basis near year-end?

 

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Auditing: Examine the acquisitions of inventory
Reference No:- TGS02127316

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