If the auditor is performing substantive procedure to determine whether the long-lived asset balance is reflected on the balance sheet in the noncurrent section, which of the following assertions is being tested?
A) Existence.
B) Completeness.
C) Presentation and Disclosure.
D) Rights and Obligations.

Question

Quizplus · Accepted Answer

The assertion being tested is Presentation and Disclosure, as the auditor is verifying that the long-lived asset is correctly classified in the noncurrent section of the balance sheet.

If the Auditor Is Performing Substantive Procedure to Determine Whether