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" because the auditor is checking if the long-lived asset balance is properly classified and disclosed in the noncurrent section of the balance sheet, which relates to how financial information is presented and disclosed in financial statements.

If the Auditor Is Performing Substantive Procedure to Determine Whether