Only Three Management Assertions Are Associated with Transaction- Related Audit

question 102

Multiple Choice

Only three management assertions are associated with transaction- related audit objectives. Which one of the following is NOT?

• A) Valuation or allocation
• B) Completeness
• C) Existence or occurrence
• D) Presentation and disclosure

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Definitions:

Activity Duration

The total time taken from the start to the completion of an activity or task within a project.

Critical Path Methods

A project management technique that identifies the longest sequence of dependent tasks and allocates resources to minimize total project duration.

Slack Time

Free time for an activity.

Activity Durations

The estimated time periods that tasks or activities within a project are expected to take to complete.