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Select the necessary words from the list of possibilities to complete the following Answer A Decernber 30 acqustion of a new plant asset was recorded aer year end raither han priar to year end Such year end rather than prior to year end Sudt an error does not usually result in a significant misstatement of of property A dolar minimum ordinanily should be established to be used by accountng personnel for distinguishing between revenue 2 A company should maintain a for plant and equipment, consisting of a separate record for each unit subsidiary ledger 3. capital and expendtures 4 To prowide assurance that the accounting department is nothed of property retrements, a system of serailywoking papers numbered should be used by the company The auditors principal objective in analyzing expense accounts is to discover property items that should have been capitalized n the auditors' irst examination of a new client that has changed auditors, the beginning balances of property 6 plant, and equipment accounts may be substantiated by referring to the predecessor auditors 7. The plant and equipment budget is designed to controlof property iteme 8. Possession of a deed is not proof of present 9. Good evidence of ownership of property often is found by examining current o The intangble asset known as auditors' of property bils arises in accounting for a business combination, and should be 10 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 Answer Such h unitacquisitions and retirements capital lease engoodwill net income ownership nronertv tax hat erty, Answer Such ch unit repairs and maintenance retirement work orders etween revenue subsidiary ledger working papers ly that erty Ibe