Tests designed to detect purchases made before the end of the year that have been recorded in the subsequent year most likely would provide assurance about management's assertion of
A) Accuracy.
B) Occurrence.
C) Cutoff.
D) Classification.

Question

Quizplus · Accepted Answer

Tests designed to detect purchases made before the end of the year that have been recorded in the subsequent year relate to the cutoff assertion, which is concerned with whether transactions are recognized in the correct accounting period.

Tests Designed to Detect Purchases Made Before the End of the Year