Ensuring that all property, plant and equipment owned by the entity at year-end are included on the balance sheet relates to which assertion?
A) rights and obligations
B) completeness
C) classification
D) existence

Question

Quizplus · Accepted Answer

The completeness assertion states that all transactions and accounts that should be recorded have been recorded. Ensuring that all property, plant and equipment owned by the entity at year-end are included on the balance sheet relates to completeness assertion.

Ensuring That All Property, Plant and Equipment Owned by the Entity