If reported sales for 20X0 erroneously include sales that occurred in 20X1, the assertion violated on the 20X0 statements would be:
A) existence or occurrence
B) completeness
C) valuation or allocation.
D) presentation and disclosure
E) rights and obligations

Question

Quizplus · Accepted Answer

The assertion violated is existence or occurrence because sales that occurred in 20X1 should not be reported in 20X0, indicating that the sales reported did not exist in the period they were reported.

If Reported Sales for 20X0 Erroneously Include Sales That Occurred