AUDITING+ASSURANCE 12MONTH ACCESS CARD
AUDITING+ASSURANCE 12MONTH ACCESS CARD
17th Edition
ISBN: 9780135635131
Author: ARENS
Publisher: WILEY
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Chapter 14, Problem 20.1MCQ
To determine

Identify the control that will be most effective in detecting a failure to record cash received from customers paying on their accounts.

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Pettis needs to determine its year-end inventory. The warehouse contains 27,000 units, of which 3,700 were damaged by flood and cannot be sold. Another 2,700 units were purchased and shipped to FOB destination, and are in transit. The company also consigns goods and has 4,700 units at a consignee's location. How many units should Pettis include in its year-end inventory? A. 34,400 B. 25,300 C. 30,700 D. 38,100 E. 28,000
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