In testing management’s rights and obligations assertion in relation to inventories, which of the following procedures would the auditor most likely consider most reliable?

Identify the correct statement regarding analytical procedures used in a final review conducted at the conclusion of an audit.

Auditors should perform audit procedures relating to subsequent events? 

In a situation where there is a justified departure from a promulgated accounting principle that is adequately disclosed, how will the auditor modify the standard report?

Upon examining repair and maintenance costs recorded by Cane Company during the year, an auditor finds a material amount that should have been capitalized in property, plant, and equipment. If this error is left uncorrected, how would it affect Cane’s reported net income and assets in its year-end financial statements? Net Income Assets a. Overstate Understate b. Understate Overstate c. Overstate Overstate d. Understate Understate

Which of the following confirmation requests would be least likely to be used?

Which of the following auditing procedures will provide evidence to support management’s assertions regarding the allocation and valuation of inventories?

When auditing an entity’s reported amount for property, plant, and equipment, which assertion will be supported with evidence obtained by the auditor during an examination of the repairs and maintenance expense account?

During which stage of the cell cycle is cell growth and replication of organelles most significant? 

How do bacteria acquire mutations that make them resistant to antibiotics?