Which Assertions May Be Tested for the "Transactions and Events

question 48

Multiple Choice

Which assertions may be tested for the "transactions and events" category of management assertions?

• A) Existence, completeness, rights and obligations, accuracy, cutoff and classification.
• B) Occurrence, completeness, rights and obligations, accuracy, cutoff and classification.
• C) Occurrence, completeness, authorization, accuracy, cutoff and classification.
• D) Existence, rights and obligations, accuracy, authorization, and completeness.

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Definitions:

Joint Venture

Two or more organizations form an alliance in the creation of a new organizational entity.

Core Competencies

Essential capabilities or strengths that provide a business with an advantage over competitors.

Resource Dependence

A theory in organizational behavior that describes how external resources of organizations influence organization behaviors and attitudes.

Environmental Uncertainty

Refers to the extent of unpredictability or lack of information in an organization's external environment, affecting decision-making processes.