The internal control objective of accuracy is related to the financial statement assertion of
A)Valuation.
B)Completeness.
C)Presentation.
D)Occurrence.

Question

Quizplus · Accepted Answer

The accuracy objective of internal control refers to the proper recording and processing of financial transactions to ensure the amounts are correct. This is directly related to the financial statement assertion of valuation, which confirms that the amounts presented in the financial statements are accurate and reflect the true economic value of the assets, liabilities, and equity of the company. Therefore, choice A) Valuation is the best answer.

The Internal Control Objective of Accuracy Is Related to the Financial