Equipment acquisitions that are misclassified as maintenance expense most likely would be detected by an internal control

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Equipment acquisitions that are misclassified as maintenance expense most likely would be detected by an internal control procedure that pro- vides for

a. Segregation of duties of employees in the accounts payable department.

b. Independent verification of invoices for disbursements recorded as equipment acquisitions.

c. Investigation of variances within a formal budgeting system.

d. Authorization by the board of directors of significant equipment acquisitions.

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Auditing An Assertions Approach

ISBN: 9780471134213

7th Edition

Authors: G. William Glezen, Donald H. Taylor

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Question Posted: May 07, 2024 02:01 AM

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Equipment acquisitions that are misclassified as maintenance expense most likely would be detected by an internal control

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Auditing An Assertions Approach

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