'All assets, liabilities and equity interests that should have been recorded have been recorded' relates to which management assertion?
A) rights and obligations
B) valuation and allocation
C) existence or occurrence
D) completeness

Question

Quizplus · Accepted Answer

The assertion of completeness states that all transactions and events that should have been recorded have been recorded. Therefore, the statement 'all assets, liabilities, and equity interests that should have been recorded have been recorded' relates to the completeness assertion.

'All Assets, Liabilities and Equity Interests That Should Have Been