Which One of the Following Is Not a Management Assertion

question 108

Multiple Choice

Which one of the following is not a management assertion relevant to long-lived assets?

• A)Existence.
• B)Completeness.
• C)Valuation.
• D)Reporting.

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Definitions:

Sears

A former major American chain of department stores known for selling a wide range of products, from clothing to appliances.

Breakeven Price

The amount of money for which selling a product or service neither results in a profit nor a loss.

Overhead Expenses

Costs that are not directly associated with the production of goods or services, such as rent, utilities, and administrative expenses.

Operating Profit

The income generated from the primary activities of a business before subtracting any tax and interest expenses.