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NEW QUESTION: 1
What is the maximum number of linked targets that TimeFinder SnapVX supports?
NEW QUESTION: 2
An auditor most likely would analyze inventory turnover rates to obtain evidence concerning
management's assertions about:
A. Valuation and allocation.
B. Rights and obligations.
D. Understandability and classification.
Choice "D" is correct. An auditor most likely would analyze inventory turnover rates to obtain evidence
concerning management's assertions about valuation and allocation (i.e., if the inventory is becoming
older, an obsolescence reserve might be required).
Choice "A" is incorrect. The existence assertion addresses whether assets, liabilities, and equity interests
exist. Analysis of inventory turnover would not provide evidence concerning this assertion.
Choice "B" is incorrect. Rights and obligations pertain to ownership of assets and liabilities. Analysis of
inventory turnover would not provide evidence concerning this assertion.
Choice "C" is incorrect. Understandability and classification deal with whether the components of the
financial statements are properly presented, described, and disclosed. Analysis of inventory turnover
would not provide evidence concerning this assertion.
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