The starting point for the verification of current-year acquisitions of manufacturing equipment is normally
A)the manufacturing equipment account in the general ledger.
B)the acquisitions journal.
C)the purchase requisitions file.
D)a client schedule of all acquisitions recorded during the year.

Question

Quizplus · Accepted Answer

A client schedule of all acquisitions recorded during the year is the most appropriate starting point for verifying current-year acquisitions of manufacturing equipment as it provides a comprehensive list of the acquisitions recorded during the year. This would include all purchases made, regardless of how they were recorded in the client's books and records. The acquisitions journal and purchase requisitions file may also provide relevant information, but they do not necessarily include all the acquisitions made during the year. The manufacturing equipment account in the general ledger would only provide information on the balance of the account, rather than the specific acquisitions made during the year.

The Starting Point for the Verification of Current-Year Acquisitions of Manufacturing