In the audit of property, plant, and equipment, the principal accuracy and valuation assertion is that
A) they should be stated at cost or a valuation less accumulated depreciation.
B) the entity has rights to all recorded property, plant, and equipment.
C) all additions that have occurred during the period have been recorded.
D) both a and c

Question

Quizplus · Accepted Answer

Property, plant, and equipment should be recorded at cost or a valuation less accumulated depreciation to ensure accurate financial reporting.

In the Audit of Property, Plant, and Equipment, the Principal