- May 31, 2020 at 5:10 pm
A. For a sample of assets selected by physical inspection, agree that they are listed on the non-current
B. For a sample of non-current assets listed on the non-current assets register, physically inspect the
I dont understand why A is a procedure for existence ?
Then what about B ?May 31, 2020 at 6:19 pm
Can you please tell me where you are seeing these options?May 31, 2020 at 6:55 pm
To physically inspect/see/touch/feel an asset provides irrefutable evidence of existence. Therefore to test from “book (i.e. recording) to physical” is always the test for existence and from “physical to book” the test for completeness (of recording).
So A is test for completeness and B the test for existence.June 1, 2020 at 5:22 am
I saw this in BPP kit Q121 Expert Co. and the answer says vice versa. So I am a little confusedJune 1, 2020 at 5:26 am
i understood it now thank youJune 1, 2020 at 7:23 am
In my old version it is Q119 an it asks which is the test for completeness – so perhaps the Q has been changed but not the answers – hence the error.
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