In the Revenue Cycle, Which of the Following Assertions Does

question 65

Multiple Choice

In the revenue cycle, which of the following assertions does not apply to the relevant account balances in the revenue cycle?

• A)Existence
• B)Completeness
• C)Valuation
• D)Classification

---

Definitions:

Reasonable Time

A period that is fair and appropriate given the circumstances, often used in contracts to define a period for the performance of an obligation.

Subjective Approach

A perspective or method that relies on personal opinions, interpretations, feelings, or tastes, rather than objective or external facts.

Contract Determination

The process of establishing the terms of a contract, including its obligations, benefits, and conditions, often through negotiation.

Enforcement

The act of compelling compliance with a law, rule, agreement, or order.