Auditors Are More Concerned with the Occurrence Assertion for Revenues

question 11

Multiple Choice

Auditors are more concerned with the occurrence assertion for revenues than the completeness assertion because

• A) Clients are more likely to overstate than understate revenues.
• B) Clients are more likely to understate than overstate revenues.
• C) It is difficult to determine when services have been performed.
• D) The allowance for doubtful accounts often is understated.

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Definitions:

Capillary puncture

A medical procedure that involves pricking the skin, typically the fingertip, to obtain small blood samples.

Middle finger

The third digit of the human hand, located between the index finger and the ring finger, often used in gestures of insult or displeasure.

Ring finger

The fourth digit of the human hand, often associated with the wearing of rings to denote marital status.

Blood sample

A small amount of blood taken from the body, typically for medical testing.