Accounting > QUESTIONS & ANSWERS > ACCT 704-ACCOUNTING- CHAPTER 13 ANSWERS (All)
ACCT 704-ACCOUNTING- CHAPTER 13 ANSWERS
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To assure accountability for fixed asset retirements, management should implement as internal control that includes: a. Continuous analysis of miscellaneous revenue to locate any cash proceeds from ... the sale of plant assets b. Periodic inquiry of plant executives by internal auditors as to whether any plant assets have been retired c. Utilization of serially numbered retirement work orders d. Periodic observation of plant assets by the internal auditors C The auditors may conclude that depreciation charges are insufficient by noting: [Show More]
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