Which of the Following Statements Is NOT Correct

question 47

Multiple Choice

Which of the following statements is NOT correct?

• A) The existence/occurrence assertion is concerned with inclusion of amounts that should not have been.
• B) The completeness assertion is concerned with the possibility of omitting items from the financial statements that should have been included.
• C) The completeness assertion deals with matters opposite from those of the existence/occurrence assertion.
• D) It would be a violation of the completeness assertion if management recorded a sale that did not take place.

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Definitions:

Urine Volume

The amount of urine excreted by the kidneys over a specified period, indicating hydration status and kidney function.

ADH

Antidiuretic Hormone (ADH), also known as vasopressin, is a hormone that helps regulate water balance in the body by controlling the amount of water reabsorbed by the kidneys.

Diabetes Insipidus

Chronic excretion of large amounts of urine of low specific gravity accompanied by extreme thirst; results from inadequate output of antidiuretic hormone.

ADH

Antidiuretic hormone, a peptide hormone produced by the pituitary gland that regulates water absorption in the kidneys.