One of the auditor's primary concerns related to presentation- and disclosure-related objectives is the ________ assertion.
A) cutoff
B) classification
C) completeness
D) both B and C

Question

Quizplus · Accepted Answer

The auditor's primary concerns related to presentation- and disclosure-related objectives are the classification and completeness assertions. The classification assertion relates to whether transactions, account balances, and disclosures have been properly classified and described, while the completeness assertion relates to whether all transactions, account balances, and disclosures have been included and disclosed in the financial statements. The cutoff assertion relates to whether transactions have been recorded in the correct accounting period.

One of the Auditor's Primary Concerns Related to Presentation- and Disclosure-Related