YES!!!! B is correct I had chose D!!!!
Assertions tested by the auditor for classes of transactions and events for the period under audit:
OccurrenceâTransactions and events that have been recorded have occurred and pertain to the entity.
CompletenessâAll transactions and events that should have been recorded have been recorded.
AccuracyâAmounts and other data relating to recorded transactions and events have been recorded appropriately.
CutoffâTransactions and events have been recorded in the correct accounting period.
ClassificationâTransactions and events have been recorded in the proper accounts.
Assertions tested by the auditor for account balances at period end:
ExistenceâAssets, liabilities, and equity interests exist.
Rights and obligationsâThe entity holds or controls the rights to assets, and liabilities are the obligations of the entity.
CompletenessâAll assets, liabilities, and equity interests that should have been recorded have been recorded.
Valuation and allocationâAssets, liabilities, and equity interests are included in the financial statements at appropriate amounts and any resulting valuation or allocation adjustments are appropriately recorded.
If an auditor observes the mailing of monthly statements to customers and reviews evidence of follow-up errors, the auditor can determine if customer balances exist at the balance sheet date based on this evidence. The auditor can also determine that the billing transactions recorded in the sales and accounts receivable accounts occurred.
The question did not ask about whether the amounts were appropriately presented and clearly expressed (which would be an assertion associated with presentation and disclosure).
AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken
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