If the bank reconciliation is incorrect the assertion violated would be:
A) existence
B) completeness.
C) valuation and allocation.
D) rights and obligations.

Question

Quizplus · Accepted Answer

Valuation and allocation is the assertion violated if the bank reconciliation is incorrect because it concerns the accuracy and appropriateness of financial statement amounts, including the proper recording of transactions and the correct allocation of income and expenses.

If the Bank Reconciliation Is Incorrect the Assertion Violated Would