Which assertion is generally the most relevant when auditing the restrictions contained in debt obligations?

Question

Quizplus · Accepted Answer

When auditing the restrictions contained in debt obligations, the most relevant assertion is proper presentation and disclosure, as it ensures that the restrictions are correctly presented in the financial statements and disclosed in the notes to the financial statements. Completeness, valuation, and existence are also important assertions, but they are less relevant than proper presentation and disclosure in this context.

Which Assertion Is Generally the Most Relevant When Auditing the Restrictions