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

Question

Quizplus · Accepted Answer

All of the above assertions are key when auditing cost of sales and expenses. Accuracy is important to ensure that the recorded amounts are correct, cut-off is important to ensure that transactions are recorded in the correct period, and completeness is important to ensure that all expenses and costs have been recorded.

The Key Audit Assertions When Auditing Cost of Sales and Expenses