What Is Not a Category of Safeguards That Can Be

question 7

Multiple Choice

What is not a category of safeguards that can be used by professional accountants?

• A)Safeguards created by the profession, by legislation or by regulation.
• B)Safeguards developed by CALDB.
• C)Safeguards which are engagement specific.
• D)Safeguards within the client's systems.

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Definitions:

Machinery

Fixed assets used in the operation of a business to produce goods or services, often having a significant lifespan and being subject to depreciation.

Installation Costs

Expenditures associated with setting up equipment or machinery for its intended use.

Fixed Assets

Long-term tangible assets that a company owns and uses in its operations to generate income, not expected to be converted into cash within a year.

Long-Term Assets

Assets owned by a company that have a useful life of more than one year, such as property, plant, and equipment.