When testing for the ________ assertion, auditors search for assets, liabilities and equity items to ensure they have been recorded.
A)cutoff
B)valuation and accuracy
C)completeness
D)presentation and disclosure

Question

Quizplus · Accepted Answer

The completeness assertion in auditing involves ensuring that all assets, liabilities, and equity items that should have been recorded actually have been recorded. This assertion addresses the concern that transactions or accounts may be omitted from the financial statements.

When Testing for the ________ Assertion, Auditors Search for Assets