Which assertion do auditors test when they trace a sample of sales, cash receipts, and sales adjustment transactions to their recording in the accounting records?
A)Completeness
B)Accuracy
C)Cutoff
D)Classification

Question

Quizplus · Accepted Answer

When auditors trace a sample of sales, cash receipts, and sales adjustment transactions to their recording in the accounting records, they are testing for completeness. This ensures that all transactions have been recorded and included in the financial statements, and none have been omitted. Accuracy, cutoff, and classification refer to other assertions that auditors test through different procedures.

Which Assertion Do Auditors Test When They Trace a Sample