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NinjaRick NinjaRick
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3 weeks ago
Which of the following is an accurate statement regarding assets and fraud risk?

▸ Companies will often capitalize repairs as fixed assets.

▸ Since fixed assets are often large, there is little theft of fixed assets.

▸ Intangible assets are recorded at cost and valuation issues therefore are not a fraud risk.

▸ Since companies have few fixed assets, there is no need for them to be periodically inventoried.
Textbook 

Auditing and Assurance Services


Edition: 17th
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neginakbarinneginakbarin
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Companies will often capitalize repairs as fixed assets.

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I appreciate what you did here, answered it right Smiling Face with Open Mouth
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