The Purpose of Audits of Financial Statements Is to Issue

The purpose of audits of financial statements is to issue an opinion on the fairness of the financial statements and to evaluate all of the following assertions (explicit or implicit) by management EXCEPT:

A) Existence or occurrence assertions address whether available information addresses actual transactions, assets, and liabilities
B) completeness assertions address whether all material financial information is included in financial statements
C) Rights and obligations assertions address whether the entity has legal rights to the assets and obligations to the liabilities disclosed on the financial statements
D) Presentation and disclosure assertions address whether the elements of the financial statements are properly organized, classified and disclosed