The specific account balance audit objective, plant assets and related expenses are properly identified and classified in the financial statements, relates to the: A) rights and obligations assertion. B) completeness assertion. C) existence or occurrence assertion. D) valuation or allocation assertion. E) presentation or disclosure assertion.

Question

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The specific account balance audit objective that plant assets and related expenses are properly identified and classified in the financial statements relates to the presentation or disclosure assertion. This assertion concerns how financial information is presented and classified in the financial statements, ensuring it is done in accordance with the relevant accounting standards and principles.

The Specific Account Balance Audit Objective, Plant Assets and Related