Property acquisitions that are misclassified as maintenance expense would most likely be detected by an internal control
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Property acquisitions that are misclassified as maintenance expense would most likely be detected by an internal control policy that provides for
a. Review and approval of the monthly depreciation entry by the plant supervisor.
b. Investigation of variances within a formal budgeting system.
c. Segregation of duties of employees in the accounts payable department.
d. Examination by the internal auditor of vendor invoices and canceled checks for property acquisitions.
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Related Book For
Auditing An Assertions Approach
ISBN: 9780471134213
7th Edition
Authors: G. William Glezen, Donald H. Taylor
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