Olga Chevalier, CPA was reviewing account balance assertion for Athabasca Oil Sands. Which one of the following would not be an account balance assertion?

Question

Quizplus · Accepted Answer

Occurrence is related to transaction-level assertions, specifically whether transactions and events that have been recorded have occurred and pertain to the entity. Account balance assertions, on the other hand, deal with the existence, rights and obligations, completeness, and accuracy, valuation, and allocation of account balances at the period end.

Olga Chevalier, CPA Was Reviewing Account Balance Assertion for Athabasca