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See the question below. What I dont understand is why someone would want to expense instead of capitalize?
19-17b. An auditor’s principal objective in analyzing repairs and maintenance expense
accounts is to(1) determine that all obsolete property, plant, and equipment assets were written off
before the year-end.
(2) verify that all recorded property, plant, and equipment assets actually exist.
(3) discover expenditures that were expensed but should have been capitalized.
(4) identify property, plant, and equipment assets that cannot be repaired and should
be written off.Answer is (3)
AUD - NINJA in Training
BEC - NINJA in Training
FAR - NINJA in Training
REG - NINJA in TrainingMake more money do less workBEC
REG
AUD
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