Which of the Following Is a Common Substantive Test of the Valuation

question 49

Multiple Choice

Which of the following is a common substantive test of the valuation assertion for PPE and intangible assets?

• A)Observe physical inventory taking of the fixed assets and compare with detailed asset records.
• B)For property valued at fair value,examine and verify supporting valuation evidence,such as independent appraisals.
• C)Recalculate amortization expense and trace to general ledger account(s).
• D)From a sample of items from the asset subsidiary records,inspect title or other ownership legal documents,

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