Which of the following is not a management assertion relevant to inventory?
A) Existence or occurrence.
B) Completeness.
C) Rights and obligations.
D) Reporting.

Question

Quizplus · Accepted Answer

Reporting is not a management assertion relevant to inventory. The other three assertions (existence or occurrence, completeness, rights and obligations) are relevant because they relate to whether the inventory actually exists, is complete, and belongs to the company. Reporting, on the other hand, refers to the presentation and disclosure of financial information and is not directly related to the inventory itself.

Which of the Following Is Not a Management Assertion Relevant