1-True or False? Ensuring that inventory transactions are recorded in the correct accounts is an example of the completeness assertion.

2-True or False? A capital asset sub-ledger details individual items of plant and equipment and records the cost of each asset and of any additions or alterations, and the accumulated depreciation charged against it.

3-True or False? The key issues in auditing property, plant, and equipment are ensuring that the property, plant, and equipment actually exist, are owned, and are properly valued with adequate provision for depreciation.

4-True or False? An imprest petty cash fund is a cash fund maintained at a constant level via replenishment with the value of receipts paid out of the fund.