Author Question: The auditor's tests for proper cutoff of current year acquisitions of property, plant, and equipment ... (Read 39 times)

jacob816 · **on:** Aug 21, 2022

Question 1

The auditor's knowledge of the client's business is important when auditing management's judgements in evaluating whether a long-lived asset is impaired or not, including estimating fair value of these assets.
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Question 2

The auditor's tests for proper cutoff of current year acquisitions of property, plant, and equipment are usually done as part of accounts payable cutoff tests.
◦ true
◦ false

hillard sane · **Reply #1 on:** Aug 21, 2022

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