During the first part of the current fiscal year, the client company began dealing with certain customers on a consignment basis. Which of the following audit procedures is least likely to bring this new fact to the auditor's attention?
a. Tracing of shipping documents to the sales journal.
b. Test of cash receipts transactions.
c. Confirmation of accounts receivable.
d. Observation of physical inventory.
Answer: D
CPA Exam
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