Economics · Auditing
Match List I (Audit Assertions) with List II (Descriptions): A. Cut-off - I. Assets, liabilities, and equity balances exist at the end of the period. B. Classification - II. Transactions and events have been recorded in the proper accounts. C. Occurrence - III. Transactions and events have been recorded in the correct accounting period. D. Existence - IV. Transactions recognized in the financial statements have occurred and relate to the entity. Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A-III, B-II, C-IV, D-I✓
- 2A-I, B-III, C-II, D-IV
- 3A-IV, B-III, C-II, D-I
- 4A-II, B-I, C-III, D-IV
Correct answer
A-III, B-II, C-IV, D-I
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