Which of the following is not one of the reasons auditors verify equipment differently from current asset accounts?
A) There are usually fewer current period acquisitions of equipment.
B) The amount of any given acquisition is often material.
C) The equipment is likely to be kept and maintained in the accounting records for several years.
D) Current assets are subject to liens and encumbrances while equipment is not.

Question

Quizplus · Accepted Answer

The reason auditors verify equipment differently from current asset accounts is not because current assets are subject to liens and encumbrances while equipment is not. The other three reasons mentioned are valid reasons why auditors verify equipment differently from current asset accounts.

Which of the Following Is Not One of the Reasons