The internal control process of requiring the check of the fixed asset subsidiary ledger and depreciation schedule for mathematical accuracy and agreement with authorized documentation, will help to minimize the risk of:
A)Incorrect amounts
B)Lost or stolen assets
C)Duplicate transactions
D)Omitted transactions

Question

Quizplus · Accepted Answer

This process ensures that the calculations and records for fixed assets and depreciation are accurate, directly addressing the risk of incorrect amounts being reported.

The Internal Control Process of Requiring the Check of the Fixed