Which One of the Following Factors Is Not an Inherent

question 87

Multiple Choice

Which one of the following factors is not an inherent risk associated with long-lived assets?

• A)Obsolescence of assets.
• B)Impairment of assets.
• C)Incomplete recording of disposals.
• D)Lack of physical controls over the long-lived assets.

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Definitions:

Equilibrium Exchange Rate

The exchange rate at which the demand for a currency exactly matches its supply, leading to market balance.

Foreign Exchange Markets

A global decentralized market for trading currencies, facilitating international trade and investment by enabling currency conversion.

Gold Standard

A financial regime in which the value of a nation's currency or banknotes is directly tied to the value of gold.

Balance of Payments

A financial statement summarizing a country's transactions with the rest of the world over a specified period, including trade, investment, and financial transfers.