Verifying the accuracy of the accounts receivable trial balance relates to the
A) existence or occurrence assertion.
B) completeness assertion.
C) accuracy and valuation assertion.
D) rights and obligations assertion.

Question

Quizplus · Accepted Answer

Verifying the accuracy of the accounts receivable trial balance involves ensuring that the amounts in the trial balance are accurate and properly valued. This relates to the accuracy and valuation assertion. The existence or occurrence assertion would involve verifying that the accounts receivable actually exist and that the transactions giving rise to them occurred. The completeness assertion would involve verifying that all accounts receivable transactions have been recorded. The rights and obligations assertion would involve verifying that the entity has the right to collect the accounts receivable and that they are not subject to any restrictions or obligations.

Verifying the Accuracy of the Accounts Receivable Trial Balance Relates