Relevant assertions relating to purchases of materials or goods are _______.
A)occurrence, completeness, accuracy, cutoff, classification
B)going concern, completeness, accuracy, cutoff, classification
C)occurrence, completeness, accuracy, cutoff, verifiability
D)occurrence, completeness, accuracy, comparability

Question

Quizplus · Accepted Answer

Assertions relating to purchases of materials or goods include occurrence (did the purchase really happen?), completeness (are all purchases recorded?), accuracy (are the amounts recorded correctly?), cutoff (are purchases recorded in the correct period?), classification (are the purchases recorded in the correct accounts?).

Relevant Assertions Relating to Purchases of Materials or Goods Are