Which of the Following Are Management Assertions About the Accounts

question 7

Multiple Choice

Which of the following are management assertions about the accounts in cash and investment 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 both classes of transactions and account balances
• E)accuracy - for both classes of transactions and account balances

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Definitions:

Positive Correlation

A relationship between two variables where both variables move in the same direction.

Average Income

A measure of the central tendency of income distribution of a population, calculated by dividing the total income of the population by the number of people in that population.

Dental Disease

Refers to conditions affecting the teeth and gums, such as cavities, gum disease, and oral cancer.

Representative Sample

A subset of a population that accurately reflects the members of the entire population, used in statistics and research to draw conclusions about the population.