Anna Monticello tested the postings of the totals in the cash receipts journal to the general ledger, trade receivables sub-ledger and other subsidiary ledgers. Which assertion(s) was she fulfilling?
A) completeness
B) valuation and allocation
C) accuracy
D) none of the above

Question

Quizplus · Accepted Answer

Anna Monticello is testing the accuracy and completeness of the postings in the various ledgers, which helps to ensure the proper valuation and allocation of the trade receivables. Therefore, she is fulfilling the assertion of valuation and allocation.

Anna Monticello Tested the Postings of the Totals in the Cash