An auditor traces the serial numbers on equipment to a nonissuer's sub-ledger. Which of the following management assertions is supported by this test?
A)Valuation and allocation.
B)Completeness.
C)Rights and obligations.
D)Presentation and disclosure.

Question

Quizplus · Accepted Answer

By tracing the serial numbers on equipment to a nonissuer's sub-ledger, the auditor is testing for completeness, as they are ensuring that all equipment owned by the nonissuer has been properly accounted for in the sub-ledger.

An Auditor Traces the Serial Numbers on Equipment to a Nonissuer's