When designing audit procedures, tracing of source documents to the customers subsidiary ledger and subsequently to the general ledger is done to satisfy what assertion?
A)Valuation
B)Cutoff
C)Completeness
D)Classification

Question

Quizplus · Accepted Answer

Tracing source documents from the subsidiary ledger to the general ledger helps in ensuring that all customer transactions have been recorded and the completeness assertion is satisfied. It ensures that all transactions have been captured and none are missing.

When Designing Audit Procedures, Tracing of Source Documents to the Customers