Which of the Following Is an Assertion

question 47

Multiple Choice

Which of the following is an assertion?

• A) A statement made by management regarding the collectability of accounts receivable.
• B) The audit firm's estimation of the client's inventory obsolescence.
• C) The statement by management regarding the appointment of auditors.
• D) The statement by management that the firm will close its branch office because of snow.

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Definitions:

Municipal Bylaw

A law passed by a local government authority that applies to residents within its jurisdiction.

Liquor Licence

An official permit required to sell alcoholic beverages within certain regulations.

Mediation

A form of alternative dispute resolution where a neutral third party helps disputing parties reach a mutually agreeable solution.

Procedural Fairness

The requirement for legal and administrative decisions to be made following processes that are fair, proper, and established, ensuring individuals are treated justly.