Multiple Choice Questions Select the best answer for each of the questions below and explain fully the reason for your selection.

i. Audit of which of the following accounts is most likely to reveal evidence relating to recorded retirements of equipment? (1) Accumulated depreciation. (2) Cost of goods sold. (3) Purchase returns and allowances. (4) Purchase discounts. 32,6 j. An effective procedure for identifying unrecorded retirements of equipment is to: (1) Foot related property records. (2) Recalculate depreciation on the related equipment. (3) Select items of equipment in the accounting records and then locate them in the plant. (4) Select items of equipment and then locate them in the accounting records. k Which of the following is not an overall test of the annual provision for depreciation expense? (1) Compare rates used in the current year with those used in prior years. (2) Test computation of depreciation provisions for a representative number of units. (3) Test deductions from accumulated depreciation for assets purchased during the year. (4) Perform analytical procedures. (1 (c) (: ( l. The audit of intangible assets typically involves