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Depreciation Expense Is Normally Verified as a Part of Tests

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Depreciation expense is normally verified as a part of tests of details of balances rather than as part of tests of controls or substantive tests of transactions.


Definitions:

Oil Shale

A fine-grained sedimentary rock from which liquid hydrocarbons (shale oil) can be produced, serving as a potential source of unconventional oil.

Oil Shale

Sedimentary rock containing organic matter that can be converted into shale oil through heating; a potential but controversial energy resource.

Oil and Gas

Natural hydrocarbon resources extracted from the Earth, used primarily for energy, heating, and in various industrial applications.

Coal

A black or brownish-black sedimentary rock that is formed from compressed organic matter and used as a fuel.

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