Determining that proper amounts of depreciation are expensed provides assurance about management's assertions of presentation and disclosure and

Question

Quizplus · Accepted Answer

Proper amounts of depreciation are necessary for the proper valuation and allocation of assets, which aligns with management's assertions of presentation and disclosure. However, depreciation does not have a direct impact on the completeness, rights and obligations or existence of assets.

Determining That Proper Amounts of Depreciation Are Expensed Provides Assurance