Accounting · Auditing and Verification

Arrange the following steps in the logical sequence for the audit verification and valuation of furniture and fixtures: A. Ensure that the amount and rate of depreciation charged on different items is based on a fair estimate of their working life. B. Check that repairs to furniture, if any, during the current year are debited to the Profit and Loss Account. C. Verify with reference to the purchase invoice in case assets have been acquired during the current accounting period. D. See that payment made on account of purchases of any item of furniture and fixture matches the invoices of the suppliers. E. Check that a fixed assets stock register is properly maintained containing the details of the various items purchased. Choose the correct answer from the options given below: