Three key management assertions about items on the balance sheet are:
A)Occurrence, completeness and accuracy.
B)Classification, existence and cut-off.
C)Confirmation, presentation and disclosure.
D)Existence, completeness and presentation.

Question

Quizplus · Accepted Answer

Existence, completeness, and presentation are key management assertions for balance sheet items, ensuring that assets and liabilities exist, are fully recorded, and properly presented.

Three Key Management Assertions About Items on the Balance Sheet