Reconciling the physical asset inventory with the property ledger on a periodic basis is a control related to which management assertion?
A) Completeness.
B) Rights and Obligations.
C) Existence.
D) Valuation

Question

Quizplus · Accepted Answer

Reconciling the physical asset inventory with the property ledger ensures that the assets actually exist, therefore it is a control related to the management assertion of existence.

Reconciling the Physical Asset Inventory with the Property Ledger on a Periodic