Audit procedures
Discuss how each of the following procedures could be used in the audit of fixed assets,e.g. ,various types of equipment used in the business.
Definitions:
Validity
The property of an argument in which the truth of the premises logically guarantees the truth of the conclusion.
Hypothetical Syllogism (HS)
A logical argument consisting of two conditional statements and a conclusion that is logically inferred from them.
Modus Ponens (MP)
A logical rule stating that if a conditional statement ("if p then q") is accepted, and the antecedent (p) is also accepted, then the consequent (q) must be accepted.
Modus Tollens (MT)
A form of logical argument where the contrapositive is taken: if P implies Q and Q is false, then P must also be false.
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