For the cash and investment process,management asserts that cash and investments exist at the balance sheet date and that the gain and loss transactions recorded for the investments occurred during the year.

Question

Quizplus · Accepted Answer

Management is making an assertion about the existence of cash and investments at the balance sheet date and the occurrence of gain and loss transactions during the year. This is a true statement.

For the Cash and Investment Process,management Asserts That Cash and Investments