Which of the following is a management assertion regarding account balances at the period end?
A)Transactions and events that have been recorded have occurred and pertain to the entity.
B)Transactions and events have been recorded in the proper accounts.
C)The entity holds or controls the rights to assets, and liabilities are obligations of the entity.
D)Amounts and other data related to the transactions and events have been recorded appropriately.

Question

Quizplus · Accepted Answer

The management assertion regarding account balances at the period end is that the entity holds or controls the rights to assets, and liabilities are obligations of the entity. This assertion relates to the completeness and existence of account balances.

Which of the Following Is a Management Assertion Regarding Account