Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. you are the auditor of pegasus limited (pegasus),

You are the auditor of Pegasus Limited (Pegasus), a resources mining company. Pegasus owns and...

60.1K

Verified Solution

Question

Accounting

You are the auditor of Pegasus Limited (Pegasus), a resources mining company. Pegasus owns and maintains a large fleet of trucks to transport mineral ore across Western Australia. During trialling of self-driving trucks that were introduced to the companys fleet during the year, a major accident occurred when the self-driving trucks were being loaded, resulting in destruction of one of the trucks, significant damage to the other trucks as well as loss of a significant amount of mineral ore. Which of the following accounts and assertions is LEAST likely to represent a risk in the audit of Pegasus?

Select one:

a.

Property, Plant and Equipment: Existence

b.

Property, Plant and Equipment: Accuracy, Valuation and Allocation

c.

Inventory: Completeness

d.

Inventory: Existence

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

Carl recorded the number of customers who visited his new store during the week Day...

Finance
1.2K views

Put options with strikes of 70, 75, and 80 have option premiums of 4.00, 8.00, and...

Psychology
1.2K views

How would a behaviorist explain motivation? How would a cognitivist explain motivation? Here is a more...

Mechanical Engineering
1.2K views

Large thin metal sheets of length L are dipped in an electroplating bath in the vertical...

Physics
1.2K views

A proton of mass 1 67 x 10 27 kg and charge 1 0 x...

Algebra
1.2K views

In the contrapositive proof why does n 1 not being divisible by 4 mean that...

Algebra
1.2K views

10 Translate the verbal phrase into an inequality use x as your variable Don t...

Accounting
1.2K views

Perkins Company owns 85% of Sheraton Company. Perkins Company sells merchandise to Sheraton Company at...

Accounting
1.2K views

Record payroll (as you did in the chapter) for 1/17/18 based on the information shown...

Accounting
1.2K views

2- Brigette Corporation sells refurbished photocopiers to Canadian-based businesses. Brigette also provides installation and and...

Accounting
1.2K views

The following transactions and adjusting entries were completed by a local delivery company called Fast...

Accounting
1.2K views

Inglesias Company just completed job number 12. See details below. Direct labor cost: $840 Direct...