The Detail Tie-In Is Part of the ________ Assertion for Account

question 86

Multiple Choice

The detail tie-in is part of the ________ assertion for account balances.

• A) classification
• B) valuation and allocation
• C) rights and obligations
• D) completeness

---

Definitions:

High-low Method

The high-low method is a straightforward way to estimate the variable and fixed components of a cost by using the highest and lowest activity levels and the corresponding total costs.

Machine Hour

A unit of measurement that represents an hour of operation of a machine or equipment.

Fixed Costs

Expenses that do not change in proportion to the level of production or sales, such as rent and salaries.

High-low Method

A technique used in accounting and finance to estimate fixed and variable costs based on the highest and lowest levels of activity.