Only three management assertions are associated with transaction- related audit objectives. Which one of the following is NOT?
A) Valuation or allocation
B) Completeness
C) Existence or occurrence
D) Presentation and disclosure

Question

Quizplus · Accepted Answer

The three management assertions associated with transaction-related audit objectives are valuation or allocation, completeness, and existence or occurrence. Presentation and disclosure is associated with balance-related audit objectives.

Only Three Management Assertions Are Associated with Transaction- Related Audit