Audit procedures.
Discuss how each of the following procedures could be used in the audit of fixed assets, e.g., various types of equipment used in the business.
Definitions:
Esters
Organic compounds resulting from the reaction of an acid (often carboxylic) with an alcohol, characterized by sweet smells and used in flavorings and solvents.
Major Organic Product
The primary substance produced in the highest yield during an organic chemical reaction.
Major Product
The primary product formed in the greatest amount during a chemical reaction.
Saponification
A chemical reaction involving the hydrolysis of fats or oils by an alkali to produce glycerol and soap.
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