Listed below are five assertion categories coded by the letters A through E.
-Long-term debt balances represent all payables to long-term creditors at the balance sheet date, and related income statement balances represent the effects of all long-term debt transactions and events that occurred during 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 long-term debt balances and related transactions are fully recorded and included in the financial statements.

Listed Below Are Five Assertion Categories Coded by the Letters