International auditing standards and U.S. GAAP classify assertions into three categories. Which of the following is not a category of assertions that management makes about the accounting information in financial statements?
A) assertions about classes of transactions for the period under audit
B) assertions about account balances at period end
C) assertions about the quality of source documents used to prepare the financial statements
D) assertions about presentation and disclosure

Question

Quizplus · Accepted Answer

Assertions about the quality of source documents used to prepare the financial statements is not a category of assertions that management makes about the accounting information in financial statements according to international auditing standards and U.S. GAAP. The three categories of assertions are assertions about classes of transactions for the period under audit, assertions about account balances at period end, and assertions about presentation and disclosure.

International Auditing Standards and U