While undertaking the audit of the debtors' balance, you use your audit software to extract from the accounts receivable master file a report which shows those debtors with a positive balance owing that is overdue by more than 30 days. At
Which of the following account balance assertions is this report aimed?
A) Completeness.
B) Valuation and allocation.
C) Occurrence.
D) Existence.

Question

Quizplus · Accepted Answer

The report is aimed at the valuation and allocation assertion as it is highlighting a potential issue with the accuracy of the valuation of accounts receivable balances that are overdue by more than 30 days.

While Undertaking the Audit of the Debtors' Balance, You Use