Which ASB balance assertion is of the most importance to auditors for long-term liabilities?
A)Existence
B)Completeness
C)Rights and obligations
D)Valuation

Name: Which ASB balance assertion is of the most importance to auditors for long-term liabilities? A)Existence B)Completeness C)Rights and obligations D)Valuation
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Question

Quizplus · Accepted Answer

Completeness is crucial for long-term liabilities to ensure that all obligations are recorded and none are omitted, which could significantly affect the financial statements.

Which ASB Balance Assertion Is of the Most Importance to Auditors