Assertions That Have a Meaningful Bearing on Whether an Account

question 39

Multiple Choice

Assertions that have a meaningful bearing on whether an account balance,transaction class,or disclosure is fairly stated are referred to as:

• A)Appropriate assertions.
• B)Sufficient assertions.
• C)Relevant assertions.
• D)Reliable assertions.

---

Definitions:

Impeller

The driving member of a torque converter torus; the impeller is mechanically connected to the engine crankshaft and should rotate at the same speed.

Lock-up Clutch

A mechanism used in automatic transmissions that locks the engine directly to the transmission's output, improving fuel efficiency and performance.

Overrunning Clutch

A drive-protection mechanism that prevents a drive member from being driven; for instance, after a starter motor has started the engine, the overrunning clutch prevents the engine from driving the starter and damaging it.