The audit objective that all balances include all items that should be recorded in that account is related most closely to which one of the ASB balance assertions?
A)Existence.
B)Rights and obligations.
C)Completeness.
D)Valuation.

Question

Quizplus · Accepted Answer

The completeness assertion is concerned with ensuring that all balances include all items that should be recorded in that account. It requires the auditor to ensure that all transactions and events that should have been recorded have been included in the financial statements.

The Audit Objective That All Balances Include All Items That