To Improve Accountability for Fixed Asset Retirements, Management Most Likely

question 3

Multiple Choice

To improve accountability for fixed asset retirements, management most likely would implement a system of internal control that includes

• A) Continuous analysis of the repairs and maintenance account.
• B) Periodic inquiry of plant executives by internal auditors as to whether any plant assets have been retired.
• C) Continuous utilization of sequentially numbered retirement work orders.
• D) Periodic inspection of insurance policies by the internal auditors.

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Definitions:

U.S. Public Health Service

A federal health agency that focuses on public health issues and works to improve and protect the health of the American people.

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No Child Left Behind Act

A U.S. Act of Congress that reauthorized the Elementary and Secondary Education Act; it included Title I provisions applying to disadvantaged students.

Federal Government's Role

The responsibilities and powers assigned to the national government as opposed to state or local governments.