Entities Frequently Maintain a Plant Register as a Subsidiary Ledger

question 40

Multiple Choice

Entities frequently maintain a plant register as a subsidiary ledger detailing individual items of PPE. Which of the following would an auditor not expect to find in a plant register?

• A) cost and accumulated depreciation.
• B) the date of previous audit inspections.
• C) serial number and supplier.
• D) insurance cover.

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Definitions:

Product B

A generic term used to differentiate one product from another in a specific context, often used for analysis, comparison, or as an example.

Direct Labor-Hours

The total hours of labor directly involved in manufacturing a product, often used as a basis for allocating overhead costs.

Overhead Assigned

The allocation of overhead costs to specific jobs or cost objects based on a predetermined rate or method.

Product X0

A specific product identifier used in inventory and production tracking, symbolizing a unique item or variant within a company's product line.