International Auditing Standards and U

question 4

Multiple Choice

International auditing standards and U.S. GAAP classify assertions into three categories. Which of the following is not a category of assertions that management makes about the accounting information in financial statements?

• A) assertions about classes of transactions for the period under audit
• B) assertions about account balances at period end
• C) assertions about the quality of source documents used to prepare the financial statements
• D) assertions about presentation and disclosure

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Definitions:

Work Experience

The practical knowledge or skills gained from being employed in a specific job or industry over a period.

Part-Time

Working less than the full number of hours considered standard or normal in a given period, often resulting in fewer responsibilities and benefits than full-time positions.

Religious Tolerance

The respect for individuals' differences in religious beliefs and practices, allowing people to worship or believe as they choose without discrimination or persecution.

Leadership Skills

A set of abilities that enable an individual to guide, motivate, and direct a group towards achieving a common goal.