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 the above.

Question

Quizplus · Accepted Answer

The final review of the format of the entity's balance sheet relates to the presentation and disclosure assertions, which ensure that the financial statements are properly presented and that all required disclosures are included. Assertions about classes of transactions and events and assertions about account balances at period end relate to the completeness, accuracy, and existence of transactions and balances.

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