Which of the following assertions address presentation and disclosure:
A) existence.
B) accuracy and valuation.
C) rights and obligations.
D) Both b and c

Question

Quizplus · Accepted Answer

Assertion B (accuracy and valuation) and assertion C (rights and obligations) primarily address presentation and disclosure. Assertion A (existence) is more related to the substance of the financial statement elements. Therefore, option D is the best choice since it includes both B and C assertions that are relevant to presentation and disclosure.

Which of the Following Assertions Address Presentation and Disclosure