Management assertions in the acquisition and expenditure business process are
A)existence or occurrence - for classes of transactions
B)completeness - for account balances
C)valuation and allocation - for classes of transactions
D)rights and obligations - for classes of transactions
E)accuracy - for classes of transactions

Question

Quizplus · Accepted Answer

Accuracy is a management assertion related to classes of transactions, ensuring that transactions are recorded at the correct amounts.

Management Assertions in the Acquisition and Expenditure Business Process Are