The Occurrence Assertion for Sales Relates to Which of the Following

question 14

Multiple Choice

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

• A) Sales and other revenues are properly classified, described and disclosed in the financial report
• B) Sales and other revenues are stated in the profit and loss at the appropriate amounts
• C) All sales and other revenues that accrued to the entity during the period are included in the income statement
• 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:

Relationship

A connection, association, or interaction between two or more variables, where changes in one variable affect the other(s).

Independent Variables

Refers to the inputs or predictors in a statistical model that are manipulated or selected by the researcher to determine their effect on the dependent variable.

COV

A measure of relative variability computed as the standard deviation divided by the mean; also known as the coefficient of variation.

Independent Variables

Variables in a statistical model that are presumed to influence or predict the outcome of a dependent variable.