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

question 86

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.

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Definitions:

Pneumoconiosis

A disease of the lungs caused by the inhalation of various forms of dust, often in occupational settings.

Bronchoscope

A medical instrument used to view the inside of the airways and lungs.

Bronchi

The major air passages of the lungs that diverge from the windpipe.

Asthma

A chronic inflammatory disorder of the airways that causes episodes of wheezing, breathlessness, chest tightness, and coughing.