Listed below are five assertion categories coded by the letters A through E.
-Plant assets and related expenses are properly identified and classified in the financial statements.
A)Completeness
B)Existence or Occurrence
C)Rights and Obligations
D)Valuation or Allocation
E)Presentation and Disclosure

Question

Quizplus · Accepted Answer

Plant assets and related expenses being properly identified and classified in the financial statements pertains to the presentation and disclosure assertion, which ensures that all information is appropriately presented and disclosed in the financial statements.

Listed Below Are Five Assertion Categories Coded by the Letters