Which set of assertions is tested when,during completion of the audit,the audit partner conducts a final review of the format of the entity's balance sheet?
A) Assertions about classes of transactions and events.
B) Assertions about account balances at the period end.
C) Assertions about presentation and disclosure.
D) None of these.

Question

Quizplus · Accepted Answer

The review of the format of the balance sheet is related to the presentation and disclosure assertion, which ensures that the financial statements are presented fairly, with all relevant disclosures included. The other assertions are related to the accuracy and completeness of the financial statements.

Which Set of Assertions Is Tested When,during Completion of the Audit,the