The Valuation and Allocation Assertion Relates to Which of the Following

Multiple Choice

The valuation and allocation assertion relates to which of the following audit objectives?

A) All accounts payable on the balance sheet are real accounts payable for goods received or services performed.
B) All accounts payable owed by the entity at year-end are included on the balance sheet.
C) Accounts payable are stated at the amounts owed at year-end.
D) Accounts payable are properly classified, described and disclosed in the financial statements.