Stock of goods on consignment should be valued at ________________

Related MCQs

• Stock should be valued at
• Debtors are valued at ________________
• Floating assets are valued at
• Floating assets are valued at –
• The auditor should state the reasons for his reservations in audit report and should try to quantify the effect on them. This should be done in case he has expressed _ i) A qualified opinion ii) an unqualified opinion with emphasis of matter paragraph iii) An adverse opinion IV) a disclaimer of opinion
• Goods sold on the basis of ‘sales or return ‘ should
• While vouching wages, auditor should examine whether there is proper segregation of duties. Which of the following activities should not be done by same department?
• Closing stock with the consignee is to be shown as the Asset of ________________
• The inventory consists of about one per cent of all assets. The client has imposed restriction on auditor to prohibit observation of stock take. The auditor cannot apply alternate audit procedures.
• Which of the following statement is not true regard to auditor’s attendance at stock taking?