Which of the following audit procedures would be least likely to lead the auditor to find unrecorded fixed asset disposals?
A) Examination of insurance policies for evidence of a dropped or cancelled policy.
B) Review of repairs and maintenance expense.
C) Review of property tax files.
D) Scanning of invoices for fixed asset additions for evidence of a purchase to replace a previously owned fixed asset.
Correct Answer:
Verified
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Q24: Equipment acquisitions that are misclassified as maintenance
Q25: The auditor is least likely to learn
Q26: In testing for unrecorded retirements of equipment,
Q27: Which of the following is likely the
Q28: The accuracy, valuation, and allocation assertion for
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