Which Audit Assertion Relates to Ensuring That All Recorded Sales

question 41

Multiple Choice

Which audit assertion relates to ensuring that all recorded sales are valid?

• A)Existence.
• B)Completeness.
• C)Occurrence.
• D)Accuracy.

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Definitions:

Forklift

A powered industrial vehicle used to lift and move materials over short distances.

Operating Cost

Expenses associated with the day-to-day operations of a business, excluding costs related to the production of goods.

Useful Life

The estimated period over which an asset is expected to be usable by the entity, affecting depreciation calculations.

Differentiation Value

The unique qualities or characteristics of a product or service that set it apart from competitors in the eyes of customers.