The audit objective that all transactions are recorded in the proper account is related most closely to which one of the ASB transaction assertions?
A)Occurrence.
B)Completeness.
C)Accuracy.
D)Classification.

Question

Quizplus · Accepted Answer

The classification assertion pertains to ensuring that transactions are recorded in the proper account. The occurrence assertion ensures that transactions actually took place, completeness assertion ensures that all transactions were recorded, and accuracy assertion ensures that transactions were recorded at the correct amount.

The Audit Objective That All Transactions Are Recorded in the Proper