Presentation and disclosure assertions address whether components of the financial statements are properly classified,described,and disclosed.

Question

Quizplus · Accepted Answer

Presentation and disclosure assertions are a set of assertions used in auditing to determine whether the components of the financial statements (such as balances, transactions, and events) are properly classified, described, and disclosed. Therefore, the statement "Presentation and disclosure assertions address whether components of the financial statements are properly classified, described, and disclosed" is true.

Presentation and Disclosure Assertions Address Whether Components of the Financial