Consider the following financial statement assertions:
-Perform cash cutoff tests.
_____
A)EO ? Existence or Occurrence
B)VA ? Valuation or Allocation
C)C ? Completeness
D)RO ? Rights and Obligations
E)PD ? Presentation and Disclosure
F)EO, C and VA
G)EO, VA, C, and PD
H)EO, VA and RO
I)EO, C and RO
J)EO, VA, C, RO, and PD
K)EO, VA, C and RO

Question

Quizplus · Accepted Answer

Cash cutoff tests primarily address the assertions of Existence or Occurrence (EO), Completeness (C), and Valuation or Allocation (VA) by ensuring that cash transactions are recorded in the correct accounting period.

Consider the Following Financial Statement Assertions