Which of the Following Independent Checks Would Be Part of the Internal

question 24

Multiple Choice

Which of the following independent checks would be part of the internal controls for fixed assets?

• A)Comparing actual fixed asset expenditures with the capital budget.
• B)Periodic counts of fixed assets should be made by someone not otherwise responsible for fixed asset related activities.
• C)Physical counts should be reconciled with the accounting records.
• D)Book value of the assets should be compared to the insurance records.

Identify and understand the measures of asset management.

Comprehend the importance of debt measures in a financial context.

Grasp the concept of profitability and how it is measured.

Develop the ability to categorize financial metrics into liquidity, asset management, debt, and profitability.

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Definitions:

Environmental Factors

Encompasses all external elements and conditions affecting an organism's life, from climate to food availability.

Plate Tectonics

The scientific theory that Earth's outer shell is divided into several plates that glide over the mantle, responsible for various geological phenomena.

Biological Species Concept

A definition of species as groups of actually or potentially interbreeding natural populations that are reproductively isolated from other such groups.

Evolution

The process by which it's thought various organisms have developed and differentiated from ancient forms over Earth's historical timeline.