Listed below are five assertion categories coded by the letters A through E.
-Plant asset balances include the effects of all applicable transactions for the period.
A)Completeness
B)Existence or Occurrence
C)Rights and Obligations
D)Valuation or Allocation
E)Presentation and Disclosure

Question

Quizplus · Accepted Answer

Completeness ensures that all transactions that should have been recorded are indeed recorded, including those affecting plant asset balances.

Listed Below Are Five Assertion Categories Coded by the Letters