When testing for the ___________ assertion, auditors gather evidence that all transactions have been recorded and the financial statements are not understated or overstated.
A)completeness
B)cutoff
C)valuation and allocation
D)disclosure

Question

Quizplus · Accepted Answer

The completeness assertion in auditing ensures that all transactions and accounts that should be included in the financial statements are indeed included, preventing understatement.

When Testing for the ___________ Assertion, Auditors Gather Evidence That