Font size
WorksheetsHarisenin.com Day 4
Total questions: 11
Worksheet time: 8mins
The Property, Plant and Equipment (PPE) are expected to be used during more than..........................................
One Period
Two Periods
Three Periods
The following isn't one of Key terms and definitions for PPE, namely....................................
Depreciation
Appreciable amount
Useful life
The systematic allocation of the depreciable amount of an asset over its useful life is the definition of.................
Depreciation
Residual Value
Useful Life
The following isn't one of the reason for derecognizing the carrying amount of an item of PPE from the financial statements, namely...............
An item of PPE is disposed
No further economic benefits are expected to flow its use or disposal
The financial statements have bad reports
The factor might occur and will exist in the PPE account that may have material impact to the entity’s financial statements, except.......................
Certain Risks
Fraud Risk
State Ownership
The objective of Substantive audit procedures is.............................
Reviewing the significant additions and disposals
Verifying whether the undepreciated carrying amount of PPE is expected to be recoverable by Company
Ensuring the audit financial statements working smoothly
The following isn't relevant assertions that have the higher risks of material misstatements, namely...................................
Existence
Rights and Obligations
Valuation
"All PPE owned by the entity at the balance sheet date are included on the balance sheet". This relevant assertion explains about.........................................
Completeness
Rights and Obligations
Presentation and Disclosure
The substantive procedure that provides audit evidence through testing a sample of transactions or specific items within an account balances is the definition of
Substantive Analytical Procedures over PPE
Test of Details: PPE
Roll-forward procedures
The roll-forward involves the examination of specific items to obtain further information about matters such as..........
The Nature of the Capital
The Nature of the Transaction
The Nature of the Balance Sheet
How do you feel about today session?
