Which of the Following Controls Is Not a Typical Internal

question 84

Multiple Choice

Which of the following controls is not a typical internal control over fixed assets?

• A) Reconcile physical inventory with the property ledger.
• B) Periodically reassess the appropriateness of depletion categories.
• C) Identify obsolete or scrapped equipment and write it down to scrap value.
• D) Periodically review management strategy and systematically assess the impairment of assets.

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Definitions:

Land Purchase Price

The total cost incurred to acquire land, including the purchase price and any additional expenses necessary to make the land usable.

Demolition

The process of tearing down or destroying buildings or structures, typically to make way for new construction.

Salvaged Materials

Salvaged materials are items that have been recovered, recycled, or repurposed from discarded resources, often used in manufacturing or construction.

Copyright

A legal right granted to the creator of original works of authorship, such as literary, dramatic, musical, artistic works, and certain other intellectual property, to publish, use, and sell their creation for a specified period of time.