Testing depreciation calculations for a sample of property, plant, and equipment tests the assertion of:

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Quizplus · Accepted Answer

Testing depreciation calculations for a sample of property, plant, and equipment relates to the valuation and allocation assertion, as it ensures that the assets are accurately recorded at their net book value and are depreciated appropriately. The existence assertion pertains to verifying the existence of assets, while completeness concerns whether all assets are recorded. Rights and obligations refer to whether the entity has the legal right to use the asset and whether any obligations exist, which is not relevant in this case.

Testing Depreciation Calculations for a Sample of Property, Plant, and Equipment