(Test Bank)Principles of Auditing and Other Assurance Services 20th Edition TBChap013

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1、Chapter13Property,Plant,andEquipment:DepreciationandDepletion True/FalseQuestions 1.Theauditors'approachtotheauditofproperty,plant,andequipmentlargelyresultsfromthefactthatrelativelyfewtransactionsoccur.  True    False 2.Amajorcontrolprocedurerelatedtoplantande

2、quipmentisabudgetfordepreciation.  True    False 3.Evidenceofcontinuedownershipofpropertyisobtainedbyvouchingpaymentstoamortgagetrustee.  True    False 4.Theauditorstypicallyobserveallmajoritemsofproperty,plant,andequipmenteveryyear.  True    False 5.Materialpu

3、rchasesofassetsfromanaffiliatedcompanyshouldbedisclosedinthefinancialstatements.  True    False 6.Idleequipmentwillgenerallyneedtobereclassifiedasacurrentasset.  True    False 13-33Copyright©2016McGraw-HillEducation.Allrightsreserved.Noreproductionordistributio

4、nwithoutthepriorwrittenconsentofMcGraw-HillEducation.7.Theprimarypurposeofinternalcontroloverplantandequipmentistosafeguardtheassetsfromtheft.  True    False 8.Atypicalprocedureintheauditofpropertyisexaminationofpublicrecordstoverifytheownershipoftheproperty.  

5、True    False 9.Evenwheninternalcontrolisweak,asignificantportionoftheauditworkonproperty,plant,andequipmentmaybeperformedataninterimdate.  True    False 10.Intheauditofdepletiontheauditorsmustoftenrelyontheworkofspecialists.  True    False  MultipleChoiceQuest

6、ions 11.Anauditorhasidentifiednumerousdebitstoaccumulateddepreciationofequipment.Whichofthefollowingismostlikely?  A. Theestimatedremainingusefullivesofequipmentwereincreased.B. Plantassetswereretiredduringtheyear.C. Theprioryear'sdepreciationexpensewaserroneou

7、slyunderstated.D. Overheadallocationswererevisedatyear-end. 13-33Copyright©2016McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.12.Intestingforunrecordedretirementsofequipment,anauditormight:

8、  A. Selectitemsofequipmentfromtheaccountingrecordsandthenattempttolocatethemduringtheplanttour.B. Comparedepreciationexpensewiththeprioryear'sdepreciationexpense.C. Traceeq