Which of the Following Would Generally Not Be a Component

question 33

Multiple Choice

Which of the following would generally not be a component of the audit of the acquisition and payment cycle?

• A) adequacy of controls over acquisitions of long-lived assets
• B) tracing disposals of long-lived assets to the fixed asset master file
• C) determining the adequacy of the funds available for capital expenditures
• D) reperformance of recorded depreciation expense

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Definitions:

Future Behavior

Predicted actions or conduct of an individual or group based on current or past behavior patterns, often used in psychological assessments.

Events

Occurrences or happenings, especially those of significance, that can be observed or participated in.

Accurately Describe

To represent or convey something in a manner that is precise, correct, and free from error or distortion.

Group Assessment

The process of evaluating the abilities, performances, or needs of a group of individuals rather than individuals separately.