The assertions of management related to financial statements include all of the these EXCEPT:
A) The existence of assets and transactions.
B) The completeness of the transactions.
C) Proper disclosure of all rights and obligations.
D) Assurance of future profitability.

Question

Quizplus · Accepted Answer

The assertions of management related to financial statements are focused on ensuring the accuracy and completeness of the financial information. The assurance of future profitability is not something that can be guaranteed, so it is not included as an assertion. The other choices are all valid assertions that management should make about financial statements.

The Assertions of Management Related to Financial Statements Include All