The completeness assertion addresses:
A) matters that are the opposite of those addressed by the occurrence assertion.
B) whether all transactions that should be included in the financial statements are in fact included.
C) the possibility of omitting transactions that should have been recorded.
D) all of the above

Question

Quizplus · Accepted Answer

The completeness assertion ensures that all transactions that should be recorded are included in the financial statements, addressing the possibility of omissions. This is the opposite of the occurrence assertion, which ensures that recorded transactions actually occurred.

The Completeness Assertion Addresses