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The Auditor Selects a Sample of Asset Disposals and Examines

question 68

Multiple Choice

The auditor selects a sample of asset disposals and examines the sales documentation evidencing disposal of the equipment and recomputes gain or loss on the disposal.This audit steps primarily tests which of the following assertions for the equipment account?


Definitions:

Mitochondrion Structure

The structure of a mitochondrion, characterized by an outer membrane, an inner membrane folded into cristae, and a matrix containing enzymes for ATP production.

Citric Acid Cycle

A series of chemical reactions used by all aerobic organisms to generate energy through the oxidation of acetate derived from carbohydrates, fats, and proteins into carbon dioxide.

Electron Transport Chain

A series of complexes that transfer electrons from electron donors to electron acceptors via redox reactions and couples this electron transfer with the transfer of protons (H+ ions) across a membrane.

Acetyl Group

A functional group consisting of a carbon atom double-bonded to an oxygen atom and single-bonded to a methyl group, denoted as CH3CO.

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