Testing a sample of repairs and maintenance items to ensure that they were properly classified as repairs as opposed to property, plant, and equipment tests which of the following assertions for the property, plant, and equipment account?

Question

Quizplus · Accepted Answer

Testing repairs and maintenance items ensures that all expenses that should be capitalized as property, plant, and equipment are not omitted, thus addressing the completeness assertion.

Testing a Sample of Repairs and Maintenance Items to Ensure