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Which of the following best describes the independent auditors approach to obtaining satisfaction concerning depreciation expense in the income statement?



1. Verify the mathematical accuracy of the amounts charged to income as a result of depreciation expense
2. Determine th emethod for computing depreciation expense and ascertain that it is in accordance with GAAP
3. Reconcile the amount of depreciation expense to those amounts credited to accumulated depreciation accounts
4. Establish the basis for depreciable assets and verify the depreciation expense

This question is part of Auditing - Final - Multiple Choice
Asked by Dodonutt, Last updated: Jun 28, 2020

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John Smith

John Smith

Answered Oct 12, 2016

Establish the basis for depreciable assets and verify the depreciation expense

LO #19-2, #19-4, #19-5
 

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