Management assertions contain which of the following:
A) statements concerning that accounts exist.
B) statements that all liabilities are included in the balance sheet.
C) statements that the financial statements are presented fairly.
D) All of the above.

Question

Quizplus · Accepted Answer

Management assertions contain statements concerning the completeness, accuracy, and validity of information included in the financial statements. These statements cover a variety of areas, including the existence of accounts (A), inclusion of all liabilities (B), and fair presentation of the financial statements (C). Therefore, all of the above (D) is the best choice.

Management Assertions Contain Which of the Following