Assertions

What is the assertion for a depreciation rationalisation?

• Existence
• Completeness
• Classification
• Valuation

What is the assertion for fixed assets additions testing?

• Accuracy
• Completeness
• Existence
• Rights & Obligations

What is the assertion for an operating expenses analytical review (year on year)?

• Completeness
• Accuracy
• Existence
• Valuation

What is the assertion for sheet to floor stocktake testing?

• Completeness

• Existence
• Valuation
• Accuracy

When we agree a sample of revenue transactions to purchase order, which assertion are we testing?

• Existence
• Accuracy
• Occurrence
• Completeness

What assertion are you testing when you obtain lease agreements to confirm lease terms

• Existence
• Rights and obligations
• Valuation
• Occurence

What assertion are you testing when we do unrecorded liabilities testing?

• Accuracy
• Occurrence
• Classification
• Completeness

What assertion are you testing when you obtain the last three sales invoices in the year and the first three in the following to agree to GDN's?

• Completeness
• Cut-off
• Occurrence
• Valuation

What assertion does the following test? Determine whether inventory is stated at the lower of cost or NRV.

• Valuation gross
• Accuracy
• Rights and obligations
• Valuation net

What assertion does inventory price testing test?

• Valuation gross
• Valuation net
• Accuracy
• Completeness