Which of the following assertions would the auditor usually consider most relevant for accounts payable?
A)Existence.
B)Valuation.
C)Disclosure.
D)Completeness.

Question

Quizplus · Accepted Answer

For accounts payable, the completeness of the account is the most relevant assertion, as the auditor wants to ensure that all outstanding payables have been recorded and that no payables have been omitted from the account. Other assertions such as existence and valuation can also be important, but they are not as relevant as completeness for accounts payable. Disclosure is also important, but it is more relevant for financial statements as a whole, rather than for a specific account like accounts payable.

Which of the Following Assertions Would the Auditor Usually Consider