An auditor selected an invoice for a large inventory purchase and vouched the invoice to the receiving report. Which ASB transaction assertion is the auditor most likely testing?
A)Occurrence
B)Completeness
C)Rights and obligations
D)Valuation

Question

Quizplus · Accepted Answer

By vouching the invoice to the receiving report, the auditor is testing whether the transaction actually occurred, which is part of the occurrence assertion.

An Auditor Selected an Invoice for a Large Inventory Purchase