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:

Beer

An alcoholic beverage made from barley, hops, water, and yeast through a fermentation process.

Pints

A measure of volume often used for liquids, approximately equal to half a liter or 16 US fluid ounces.

Social Support

The assistance and comfort received from others, which can be emotional, informational, or tangible, contributing to an individual's coping mechanism.

Instrumental Aid

Assistance given to someone in the form of services or devices that support the completion of tasks or the achievement of goals.