Answer 30 acquisition of a new plant asset was recorded after year-end rather than prior to year-end. Such for plant and equipment, consisting of a separate record for each unit A dollar minimum ordinairily should be established to be used by accounting personnel for distinguishing between an error does not usually result in a significant misstatement of A company should maintain a 2 of property subsidiary ledger apital and revenue expenditures To provide assurance that the accounting department is notified of property retirements, a system of seriallywork numbered should be used by the company ng papers The auditors' principal objective in analyzing expense accounts is to discover property items that should have been capitalized 6 In the auditors' first examination of a new cdlient that has changed auditors, the beginning balances of property plant, and equipment accounts may be substantiated by referring to the predecessor auditors 7. The plant and equipment budget is designed to contro 8. Possession of a deed is not proof of present 9 Good evidence of ownership of property often is found by examining current 0 The intangible asset known as of property items of property bills 10 arises in accounting for a business combination, and should be amortized as its value becomes impaired over the years. 11 A company may not actually own property recorded as an asset, instead the company may have rights to the asset under the terms of a An unit acquisitions and retirements capital lease goodwill net income ownership ween at rty Answer 30 acquisition of a new plant asset was recorded after year-end rather than prior to year-end. Such for plant and equipment, consisting of a separate record for each unit A dollar minimum ordinairily should be established to be used by accounting personnel for distinguishing between an error does not usually result in a significant misstatement of A company should maintain a 2 of property subsidiary ledger apital and revenue expenditures To provide assurance that the accounting department is notified of property retirements, a system of seriallywork numbered should be used by the company ng papers The auditors' principal objective in analyzing expense accounts is to discover property items that should have been capitalized 6 In the auditors' first examination of a new cdlient that has changed auditors, the beginning balances of property plant, and equipment accounts may be substantiated by referring to the predecessor auditors 7. The plant and equipment budget is designed to contro 8. Possession of a deed is not proof of present 9 Good evidence of ownership of property often is found by examining current 0 The intangible asset known as of property items of property bills 10 arises in accounting for a business combination, and should be amortized as its value becomes impaired over the years. 11 A company may not actually own property recorded as an asset, instead the company may have rights to the asset under the terms of a An unit acquisitions and retirements capital lease goodwill net income ownership ween at rty