Multiple Choice
Which of the following policies constitutes a control weakness related to the acquisition of factory equipment?
A) Acquisitions are to be made through and approved by the department in need of the equipment.
B) Advance executive approvals are required for equipment acquisitions.
C) Variances between authorized equipment expenditures and actual costs are to be immediately reported to management.
D) Depreciation policies are reviewed only once a year.
Correct Answer:
Verified
Correct Answer:
Verified
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