Need help with question 4 and 5

three options for question 4: All, No, Intangible ("All" is incorrect)

five options for question 5: closest, month end, next, quarter end, year end ("Closest" is incorrect)

Required information Testing Property at an Interim Date Read the case and answer the questions that follow Much of the testing of property, plant, and equipment and intangible assets can be done in advance of the balance sheet date. This approach is often more efficient as auditors and clients can schedule a mutually agreeable time--one that is less in conflict with demanding peaks of end of the year/period schedules. Especially in the case of a new client, the arduous task of establishing the beginning asset balances can be done at an interim date. CONCEPT REVIEW As with any business cycle that has peak demand periods and tight deadlines, auditors need to learn to optimize their workload by moving work, as much as it is possible, to non-peak times. Property accounts, because of their balance sheet placement are usually tested at year-end; however, because clients make additions and disposals at varying times during the year, it can be convenient and efficient for auditors to test at an interim date and then update at year-end 1. While testing property at an interim date, 2. Most of the work on property can be done 3. In a first year audit, auditors must get comfortable with the_balances in property. 4 can be tested in coordination with property. depreciation the balance sheet date. before assets can be audited at an interim date date All Intangible 1. While testing property at an interim date,can be tested in coordination with property 2. Most of the work on property can be done 3. In a first year audit, auditors must get comfortable with the 4 5. When property is tested at an interim date, audits must roll forward procedures to the depreciation before beginning the balance sheet date. balances in property assets can be audited at an interim date. date closest month-end next quarter-end year-end