The valuation assertion includes:
A)The measurement assumption used.
B)Ensuring all inventory is counted.
C)Making sure that all receivables relate to sales during the year.
D)The method of presenting short term and long term liabilities.

Question

Quizplus · Accepted Answer

The valuation assertion involves ensuring that assets and liabilities are recorded at appropriate amounts, which includes the measurement assumption used.

The Valuation Assertion Includes