While undertaking the audit of the debtors' balance, you use your audit software to extract from the accounts receivable master file a report that 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

This report is aimed at the valuation and allocation assertion, as it is used to identify any potentially overstated accounts receivable balances that may not be collectable or have been overdue for an extended period of time.

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