Which of the Following Is Not One of the Three

question 30

Multiple Choice

Which of the following is not one of the three categories of assertions?

• A)Assertions about classes of transactions and events for the period under audit
• B)Assertions about financial statements and correspondence to GAAP
• C)Assertions about account balances at period end
• D)Assertions about presentation and disclosure

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Definitions:

Invoice Description

A detailed statement showing goods sold or services provided, their prices, and the total amount to be paid.

System Recording

The process of capturing and documenting operations or events within a system for review or analysis purposes.

Financial Transactions

Deals with the process of exchanging assets such as money between two or more parties.

Itemization

Refers to the process of breaking down a list or group into individual elements for detailed analysis or reporting.