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Your client provides an account detail for their Equipment Account (long-term asset), which includes 6 industrial sized steel presses that they use in producing their
Your client provides an account detail for their Equipment Account (long-term asset), which includes 6 industrial sized steel presses that they use in producing their inventory. You decided to go to their production facility and directly observe these pieces of equipment in action. During this observation you notice that one of the steel presses is not being actively used and seems to have a layer of dust on it. What assertion should you be most concerned with?
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