In the revenue business process,the auditor gathers evidence to evaluate management's assertions about presentation and disclosure of the accounts in the revenue process.These assertions are
A)occurrence and rights and obligation - financial information and all other information is disclosed fairly and at appropriate amounts
B)cutoff and existence - disclosed events and transactions have occurred in the appropriate period
C)completeness -all disclosures that should have been made have been made
D)classification and understandability - financial information is appropriately presented and described
E)accuracy and valuation - disclosed events and transactions have occurred and pertain to the company
F)both A and B
G)both C and D

Question

Quizplus · Accepted Answer

The correct answers are assertions about completeness, which ensures all necessary disclosures have been made, and classification and understandability, which ensures financial information is presented clearly and correctly. These are key in evaluating the presentation and disclosure of accounts in the revenue process.

In the Revenue Business Process,the Auditor Gathers Evidence to Evaluate