As Existence of Property, Plant, and Equipment Is the Key

question 49

True/False

As existence of property, plant, and equipment is the key audit assertion, the auditor
does not need to obtain evidence of sales, disposals, and trade-ins.

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Definitions:

CIO

Stands for Chief Information Officer, a senior executive responsible for managing an organization's information technology strategy.

Face to Face

Direct interaction between people, in the same physical location, enhancing communication through body language and immediate feedback.

Conversational Messages

Communications that mimic natural, human-like dialogue, often used in chatbots, messaging apps, and customer service interactions.

Real Time

Refers to systems or processes that operate or provide information immediately as events occur, without noticeable delay, often used in computing and telecommunications.