Which of the following is an accurate statement regarding perpetual inventory master files?
A) When perpetual inventory master files are accurate, auditors can test the physical inventory after the balance sheet date.
B) It is a difficult procedure for the auditor to test the accuracy of the perpetual inventory master files.
C) Auditors test the perpetual records for reductions in finished goods for sale as part of the sales and collection cycle.
D) All of the above are accurate statements.
C
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