Which of the Following Are Management Assertions About the Accounts

question 50

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 classes of transactions
• C)valuation and allocation - for both classes of transactions and account balances
• D)rights and obligations - for account balances
• E)accuracy - for both classes of transactions and account balances

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Definitions:

Suspend Judgment

The practice of deliberately withholding evaluation or judgment about something, allowing for a more open-minded and unbiased consideration.

Delay Telling

The practice of postponing the disclosure of information or news to individuals or groups, often for strategic or sensitive reasons.

Title I School

An educational institution receiving federal funds to support programs that enhance the learning of students in high-poverty areas.

Family Engagement

A mutually collaborative, working relationship with the family that serves the best interests of the student, in either the school or home setting, for the primary purpose of increasing student achievement; active engagement by the home, school, and community to come together and help students learn and develop to their full potential.