ACCA AA · Chapter 9 · Question 6 of 10
Which audit procedure provides the best evidence of the rights and obligations assertion for a freehold property included in non-current assets?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Inspecting the title deeds or land registry records in the name of the entity
Explanation
Title documents show that the entity owns the property and therefore has rights over it. Physical inspection confirms existence but not ownership, recalculating depreciation tests valuation, and comparison with the prior year is an analytical procedure that does not address ownership.
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