The detail tie-in is part of the ________ assertion for account balances.
A) classification
B) valuation and allocation
C) rights and obligations
D) completeness

Question

Quizplus · Accepted Answer

The valuation and allocation assertion relates to whether transactions have been recorded at the appropriate amount and allocated to the appropriate accounts. The detail tie-in is a test of this assertion, as it ensures that individual transactions are properly recorded and allocated to the correct account balances.

The Detail Tie-In Is Part of the ________ Assertion for Account