Reconciling the Physical Asset Inventory with the Property Ledger on a Periodic

question 3

Multiple Choice

Reconciling the physical asset inventory with the property ledger on a periodic basis is a control related to which management assertion?

• A)Completeness.
• B)Rights and obligations.
• C)Existence.
• D)Valuation.

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Definitions:

Inherent Need

A fundamental psychological or physiological requirement essential for the well-being and survival of an individual.

Achievement Behavior

Actions directed towards attaining a specific standard of excellence or meeting certain goals, often motivated by a desire for success.

Mastery Goals

Objectives focused on developing competence or mastering a set of skills, rather than on demonstrating superiority over others.

High Need

The state of requiring or greatly desiring a particular resource, condition, or outcome.