Final answer:
The auditor's conclusion that no excessive costs for an idle plant were charged to inventory is likely related to presentation and disclosure. The organization likely followed proper accounting principles and provided appropriate disclosures related to idle plant costs, ensuring the accuracy of the financial statements.
Step-by-step explanation:
The auditor's conclusion that no excessive costs for an idle plant were charged to inventory is likely related to presentation and disclosure. Presentation refers to how financial information is displayed, while disclosure refers to the details provided in the financial statements.
In this case, the auditor likely found that the costs associated with the idle plant were adequately separated and not included in the inventory valuation, as required by accounting standards. This ensures that the financial statements accurately represent the true value of inventory.
The conclusion also suggests that the organization followed proper accounting principles and provided appropriate disclosures related to idle plant costs, avoiding any misrepresentation or overstatement of inventory value.