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.

---

Definitions:

Creative Intelligence

A facet of intelligence involving the ability to deal with new and different concepts and to come up with innovative solutions to problems.

Emotional Intelligence

The ability to perceive, understand, manage, and use emotions.

Existential Intelligence

The ability to grapple with big questions about human existence, such as the meaning of life, why we die, and how we got here, often associated with philosophical thinking.

Bodily-kinesthetic

Pertaining to the intelligence that involves physical coordination, movement, and the ability to manipulate objects effectively.