Which of the Following Statements Is True About the Completeness

question 55

Multiple Choice

Which of the following statements is true about the completeness and occurrence assertions?

• A)Both assertions are relevant to classes of transactions and events and account balances.
• B)If management asserts that recorded sales transactions represent exchanges of goods or services that actually took place, they are asserting to completeness.
• C)Violations of the occurrence assertion relate to account overstatements.
• D)The failure to record a sale that did occur is a violation of the occurrence assertion.

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Definitions:

N = 20

Denotes a sample size of 20 in statistical terms, referring to the number of subjects or units in a study or experiment.

Creative Benefits

Non-traditional compensation or perks offered by employers, often designed to accommodate personal needs and preferences of employees.

Competitive Edge

An advantage that allows an organization to outperform its rivals.

Talented Employees

Individuals who possess a high level of skill, creativity, or intelligence, making them particularly valuable to their employers.