Which of the following would generally not be a component of the audit of the acquisition and payment cycle?
A) Adequacy of controls over acquisitions of long-lived assets
B) Tracing disposals of long-lived assets to the Fixed Asset Master File
C) Determining the adequacy of the funds available for capital expenditures
D) Reperformance of recorded depreciation expense

Question

Quizplus · Accepted Answer

The adequacy of funds available for capital expenditures is not directly related to the acquisition and payment cycle. The other choices are typical components of the audit of this cycle.

Which of the Following Would Generally Not Be a Component