Management Assertions Are Best Defined as ________

question 75

Multiple Choice

Management assertions are best defined as ________.

• A)sometimes being present in the financial statements, and sometimes not.
• B)optional items for the auditor to check
• C)representations by management, explicit and implicit, contained within the financial statements.
• D)management communications with an attorney

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Definitions:

Negotiation

The process of discussing something with another party to reach a mutually agreeable outcome or deal.

Coercion

The practice of persuading someone to do something by using force or threats.

Relevant Information

Data or facts that have significance or bearing on a decision, situation, or problem at hand.

Outsiders

Individuals or entities that are not involved or included within a particular group, organization, or activity.