Tracing a sample of inventory receiving reports to the perpetual inventory record entry achieves the specific ASB balance assertion of
A) Completeness.
B) Occurrence.
C) Presentation.
D) Valuation.

Question

Quizplus · Accepted Answer

Tracing the inventory receiving reports to the perpetual inventory record entry ensures that all inventory transactions have been recorded and accounted for, achieving the completeness assertion.

Tracing a Sample of Inventory Receiving Reports to the Perpetual