Management Assertions About the Accounts in the Inventory Business Process

question 48

Multiple Choice

Management assertions about the accounts in the inventory business process are

• A)existence or occurrence - for account balances
• B)completeness - for both classes of transactions and account balances
• C)valuation and allocation - for both classes of transactions and account balances
• D)rights and obligations - for classes of transactions
• E)accuracy - for both classes of transactions and account balances

---

Definitions:

Comma

A punctuation mark (,) used to indicate a pause between parts of a sentence or to separate items in a list.

Semicolon

A punctuation mark (;) used to separate items in a list or to link closely related independent clauses.

Colon

A punctuation mark (:) used to precede a list of items, a quotation, or an expansion or explanation.

Period

A punctuation mark used to indicate the end of a sentence or to separate items in a list.