Which of the following assertions address whether accounts have been included in the financial statements at appropriate amounts?
A)Completeness assertion.
B)Valuation or allocation assertion.
C)Rights and obligations assertion.
D)None of the above.

Question

Quizplus · Accepted Answer

The valuation or allocation assertion pertains to the accuracy of amounts recorded in the financial statements, including whether accounts have been appropriately valued or allocated, such as inventory or property plant and equipment.

Which of the Following Assertions Address Whether Accounts Have Been