Which of the Following Assertions Do NOT Address Classes of Transactions

question 20

Multiple Choice

Which of the following assertions do NOT address classes of transactions and events for the period under audit:

• A) rights and obligations.
• B) completeness.
• C) cut-off.
• D) None of the above.

---

Definitions:

Volume Variance

The difference between the expected and actual sales volumes, impacting revenue and expenses.

Manufacturing Overhead

All indirect costs associated with manufacturing a product, such as factory maintenance, utilities, and quality control.

DLH

The hours of work performed by workers directly involved in the manufacturing process, serving as a basis for allocating labor costs.

Volume Variance

The difference between the expected volume of production or sales and the actual volume, affecting costs or revenues.