The Starting Point for the Verification of Current Year Acquisitions

question 121

Multiple Choice

The starting point for the verification of current year acquisitions of property, plant and equipment is normally:

• A) the acquisitions journal.
• B) the purchase requisitions file.
• C) a schedule obtained from the client of all acquisitions recorded in the general ledger during the year.
• D) the property, plant and equipment account in the general ledger.

---

Definitions:

Automatic System

An unconscious, fast, and often involuntary process of information processing in the brain, which contrasts with deliberate and effortful processing.

Socially Acceptable

Behaviors or practices that are widely approved of within a society or cultural group.

Automatic System

This term relates to cognitive processing that functions effortlessly, quickly, and without the need for conscious guidance, as opposed to the deliberate system.

Gut Reactor

An individual who often relies on intuitive, emotional responses rather than analytical thinking when making decisions.