Which of the following is NOT one of the five broad categories of assertions, as adapted from ASA 315?
A) Presentation and disclosure
B) Existence or occurrence
C) Valuation or allocation
D) General or specific transaction objectives

Question

Quizplus · Accepted Answer

The four categories of assertions adapted from ASA 315 are existence or occurrence, completeness, valuation or allocation, and presentation and disclosure. "General or specific transaction objectives" is not a category of assertions recognized by ASA 315.

Which of the Following Is NOT One of the Five