During the investigation of the Building and Land accounts, the auditor notes that one of the buildings was sold last year for a very large profit as authorized by the board of directors. The audit partner does not understand why the profit was so large.
The partner instructs you to determine which land or building properties were sold during the year and the amount of profit recognized. The auditor is considering the following procedures:

1. Checking the depreciation schedule to determine which properties are still being depreciated
2. Reviewing the property ledger to determine which properties had been deleted during the year
3 Physically inspecting and photographing all properties
4. Inspecting the tax receipts for each property
5. Inspecting the taxing authority records for title to the properties
6. Inspecting the property insurance policies

Required
a. Identify the one best procedure listed previously as evidence of which property or properties were sold. Defend the choice by identifying its major strengths and the major weaknesses in the other procedures.
b. Identify the best procedure (or combination of procedures) to determine whether the proper amount of profit was recognized on the sale.