Management Assertions in the Acquisition and Expenditure Business Process Are

question 12

Multiple Choice

Management assertions in the acquisition and expenditure business process are

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

---

Definitions:

Client-Professional Privilege

A legal principle that ensures communications between a professional (such as a lawyer) and their client remain confidential.

Confidential Information

Sensitive data that is protected from unauthorized access, use, or disclosure, often in a business context.

Duty of Care

Refers to the legal obligation to exercise a reasonable level of attention and caution to avoid harm to others.

Architects' Skill

The professional expertise and competency that an architect is expected to exhibit in the planning, design, and oversight of a building's construction.