The Occurrence Assertion for Sales Relates to Which of the Following

question 28

Multiple Choice

The occurrence assertion for sales relates to which of the following audit objectives?

• A)All sales and other revenues that accrued to the entity during the period are included in the income statement
• B)Sales and other revenues are properly classified,described and disclosed in the financial report
• C)Sales and other revenues are stated in the profit and loss at the appropriate amounts
• D)All sales included in the income statement represent the exchange of goods or services with customers during the period

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Definitions:

Teaching Method

A systematic approach or strategy used by educators to facilitate learning in students, which can vary widely depending on the subject matter, student needs, and educational goals.

Experimental Study

A research method that involves the manipulation of one variable to determine if changes in one variable cause changes in another variable, conducted in a controlled environment.

Cohort Effect

Variations in the characteristics of an area of study (such as attitudes, experiences, or behaviors) that occur as a result of being born at about the same time, experiencing the same historical events, or sharing the same generational influences.

Educational Software

Computer applications designed specifically to aid in the educational process, either by delivering knowledge or by facilitating learning activities.