Which of the Following Audit Procedures Would Be Least Likely

question 54

Multiple Choice

Which of the following audit procedures would be least likely to lead the auditor to find unrecorded fixed asset disposals?

• A)Examination of insurance policies for evidence of a dropped or cancelled policy.
• B)Review of repairs and maintenance expense.
• C)Review of property tax files.
• D)Scanning of invoices for fixed asset additions for evidence of a purchase to replace a previously owned fixed asset.

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Definitions:

ISO 9000

A set of international standards on quality management and quality assurance developed to help companies effectively document the quality system elements required for maintaining an efficient quality system.

International Marketplace

The global economic environment in which businesses operate, allowing for the exchange of goods and services across national borders.

Quality Objectives

Goals that relate to the consistency and excellence of a product or service, usually defined in a company's quality management system.

Quality Control

The processes and measures implemented to ensure that products or services meet specified quality standards.