Selecting a sample of notes payable transactions and vouching payments to canceled checks is a test of the ASB balance assertion of
A) Accuracy.
B) Completeness.
C) Existence.
D) Presentation.

Question

Quizplus · Accepted Answer

Vouching payments to canceled checks confirms the existence of the notes payable transactions and supports the ASB balance assertion of existence. It does not provide evidence for completeness, accuracy, or presentation assertions.

Selecting a Sample of Notes Payable Transactions and Vouching Payments