Rights and obligations is the only balance-related assertion without a similar transaction-related assertion.

Question

Quizplus · Accepted Answer

This is true. While rights and obligations refer to the balance of power and responsibility between parties, transaction-related assertions refer to specific financial transactions and their accuracy, completeness, and authorization. There is no direct transaction-related assertion that complements rights and obligations.

Rights and Obligations Is the Only Balance-Related Assertion Without a Similar