The three audit assertions that are important to ensure the auditor has gained sufficient and appropriate audit evidence for sales revenue are:
A) completeness, accuracy and occurrence.
B) occurrence, accuracy and cut-off.
C) cut-off, accuracy and completeness.
D) classification, accuracy and completeness.

Question

Quizplus · Accepted Answer

Occurrence ensures that recorded sales transactions actually happened, accuracy ensures that sales are recorded at the correct amounts, and cut-off ensures that sales are recorded in the correct accounting period.

The Three Audit Assertions That Are Important to Ensure the Auditor