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AL0354335 AL0354335
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Because the failure to record disposals of property, plant, and equipment can significantly affect the financial statements, the search for unrecorded disposals is essential. Which of the following is not a procedure used to verify disposals?

▸ Make inquiries of management and production personnel about the possibility of the disposal of assets.

▸ Review whether newly acquired assets replace existing assets.

▸ Test the valuation of fixed assets recorded in prior periods.

▸ Review plant modifications and changes in product line, property taxes, or insurance coverage.
Textbook 

Auditing and Assurance Services


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elacevedoelacevedo
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Test the valuation of fixed assets recorded in prior periods.

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