Occurrence Is Not Typically a Significant Assertion as the Primary

question 43

True/False

Occurrence is not typically a significant assertion as the primary objective in testing for occurrence is to ensure that costs and expenses are not overstated.

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Definitions:

Collecting Agent

An entity or individual appointed to gather or receive payments or debts on behalf of another party.

Indorsement

The act of signing one's name on the back of a check or other negotiable instrument to legally transfer its ownership or to approve its terms.

Order Of

Typically refers to a directive issued by a court or a sequence or arrangement of items, actions, or priorities.

Stamped Imprint

A type of mark or impression made on a document or object, often for legal or official purposes, using a stamp.