Which of the Following Are Management Assertions About the Accounts

question 27

Multiple Choice

Which of the following are management assertions about the accounts in long-term debt and owner's equity process?

• A)existence or occurrence - for classes of transactions
• 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 classes of transactions
• F)both A and c
• G)both B and E
• H)both D and E

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Definitions:

Power

The capacity or ability to direct or influence the behavior of others or the course of events.

Fame

The state or condition of being widely recognized and esteemed by a large audience, often as a result of notable achievements or celebrity status.

Money

A medium of exchange used to facilitate transactions for goods and services, typically issued by governments and recognized as legal tender.

Bank Robberies

Criminal acts involving the unauthorized taking of money or valuables from a bank while threatening violence or using force.