In a typical audit, verification of the ownership of plant and equipment is least likely to involve examination of:
A) the physical characteristics of the items
B) "paid invoices".
C) registration certificates.
D) property tax bills.

Question

Quizplus · Accepted Answer

Verification of ownership typically involves examining documents that legally prove ownership, such as registration certificates and property tax bills, or financial transactions like paid invoices. The physical characteristics of items, while important for other aspects of an audit, are less directly related to verifying ownership.

In a Typical Audit, Verification of the Ownership of Plant