In Evaluating Control Risk and Effectiveness for Fixed Assets,controls Should

question 77

Multiple Choice

In evaluating control risk and effectiveness for fixed assets,controls should be designed for numerous purposes.Which of the following is not a usual control for fixed assets?

• A)identify existing assets,inventory them,and reconcile physical inventory with the property ledger.
• B)periodically reassess the appropriateness of depletion categories.
• C)identify obsolete or scrapped equipment and write it down to scrap value.
• D)periodically review management strategy and systematically assess the impairment of assets.
• E)all of the above are usual controls for fixed assets.

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Definitions:

Behavioral

relates to actions, responses, or reactions of individuals or systems in response to external or internal stimuli.

Physiological

Pertaining to the functions and activities of living organisms and their parts, including all physical and chemical processes.

Trembling

Involuntary shaking or quivering movements, often resulting from emotional states, cold, or medical conditions.

James-Lange Theory

A theory of emotion that proposes emotions result from our interpretation of bodily reactions to stimuli rather than from an emotional state causing physiological responses.