Multiple Choice
Which of the following statements is NOT correct?
A) The existence/occurrence assertion is concerned with inclusion of amounts that should not have been.
B) The completeness assertion is concerned with the possibility of omitting items from the financial statements that should have been included.
C) The completeness assertion deals with matters opposite from those of the existence/occurrence assertion.
D) It would be a violation of the completeness assertion if management recorded a sale that did not take place.
Correct Answer:
Verified
Correct Answer:
Verified
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