The key audit assertions when auditing cost of sales and expenses include:
A) cut-off.
B) completeness.
C) accuracy.
D) all of the above.

Question

Quizplus · Accepted Answer

The key audit assertions when auditing cost of sales and expenses include cut-off (ensuring transactions are recorded in the correct accounting period), completeness (ensuring all transactions are recorded), and accuracy (ensuring the amounts recorded are correct). Therefore, all of the above options are correct.

The Key Audit Assertions When Auditing Cost of Sales and Expenses