Audit procedures for fixed assets involve verifying the existence, ownership, valuation, and presentation of these assets in the financial statements. Here's a brief overview of some common audit procedures:

$1.**$Physical Inspection$**$: Auditors physically inspect fixed assets to ensure they exist and are in good condition. They compare the assets to records to confirm accuracy.

$2.**$Documentation Review$**$: Auditors examine documents such as purchase orders, invoices, and title deeds to verify ownership and valuation of fixed assets.

$3.**$Asset Tagging$**$: Auditors check for asset tags or labels affixed to fixed assets, which aids in tracking and identification.

$4.**$Reconciliation$**$: Auditors reconcile fixed asset records with the general ledger to ensure accuracy and completeness.

$5.**$Testing Controls$**$: Auditors assess controls related to fixed asset management, such as authorization, recording, and physical safeguards.

$6.**$Analytical Procedures$**$: Auditors perform analytical procedures to identify any unusual fluctuations or inconsistencies in fixed asset balances.

$7.**$Subsequent Events$**$: Auditors review subsequent events to ensure any significant changes or disposals of fixed assets are appropriately reflected in the financial statements.

Now, here's an objective type question based on the information provided:

Which audit procedure involves physically inspecting fixed assets to confirm their existence and condition?

A$)$ Documentation Review

B$)$ Asset Tagging

C$)$ Physical Inspection

D$)$ Reconciliation

What's your choice?