Which assertion for ending inventory is most likely violated if the gross profit percentage is much greater than last year?
A. Existence.
B. Completeness.
C. Rights and obligations.
D. Valuation and allocation.
Answer: Completeness
Which assertion for ending inventory is most likely violated if the gross profit percentage is much greater than last year?
A. Existence.
B. Completeness.
C. Rights and obligations.
D. Valuation and allocation.
Answer: Completeness
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.