The Completeness Assertion Relates to ________

question 70

Multiple Choice

The completeness assertion relates to ________.

• A)all transactions and events that should have been recorded have been recorded
• B)all payroll accounting records are complete and accounted for
• C)all entries are recorded in the correct period
• D)all accounts are valued at their correct amounts

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Definitions:

Return On Investment

A measure used to evaluate the efficiency or profitability of an investment, calculated by dividing the benefits of an investment by its costs.

Income From Operations

Earnings generated from a company's regular, core business operations, excluding non-operational income and expenses.

Investment Turnover

A measure of the trading activity in an investment portfolio, calculated by dividing the total sales or purchases (whichever is less) of securities by the average value of the portfolio's assets.

Income From Operations

The profit generated from a business's core activities, excluding revenues and expenses from non-operational activities.