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The Auditor Needs to Gain Reasonable Assurance That the Equipment

Question 35
Multiple Choice
arrowQuestion 35arrow
Multiple Choice

The auditor needs to gain reasonable assurance that the equipment accounts in the fixed asset master file are not understated.Which of the following accounts would most likely be reviewed in making that determination?

A)Depreciation expense
B)Repairs and maintenance expense
C)Gains/losses on sales and retirements

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