Recap D4 - Staff 1

What are assertions for cost of fixed asset. Choose correct answer

1. Completeness; 2. Existence; 3. Valuation; 4. Right and obligation; 5. Present and disclosure; 6. Occurrence; 7. Measurement

• A. 1,2,3

• B. 1,2,3,4

• C. 1,2,3,4,5

• D. 3,4,5,6,7

What are assertions for depreciation expense of fixed asset. Choose correct answer

1. Completeness; 2. Existence; 3. Valuation; 4. Right and obligation; 5. Present and disclosure; 6. Occurrence; 7. Measurement

• A. 1,2,3

• B. 1,2,3,4

• C. 1,2,3,4,5

• D. 3,4,5,6,7

Archive is due ….. after the date of our auditor’s report

• A. 14 days

• B. 15 days

• C. 16 days

• D. 17 days

What are PSP task for PP&E in accordance with EY GAM?

1. Agreement of subledgers with general ledger

2. Additions and disposals

3. Depreciation, depletion and amortization

4. Impairments of property, plant and equipment

• A. 1,2,3

• B. 1,2

• C. 1,2,3,4

• D. 2,3,4

What measurement model(s) is/are applied for fixed assets after recognition in accordance with VAS 03? Select all correct answer.

• A. Cost model

• B. Revaluation model

• C. Impairment model

• D. All are correct