Complete the following chart indicating the corresponding Auditing Standards Board assertions and whether the assertion relates to transactions or balances. Note: For "Nature of Assertion", you may select more than one answer. PCAOB Assertion Existence or Occurrence Rights and Obligations Completeness Valuation or Allocation Presentation and Disclosure Corresponding ASB Assertion Existence Occurence Nature of Assertion Transactions ✓ Transactions Transactions Transactions Transactions Transactions Transactions Transactions Transactions Transactions < 00000006 Balances Balances Balances Balances Balances Balances Balances Balances Balances Balances

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Complete the following chart indicating the corresponding Auditing Standards Board assertions and whether the assertion relates to
transactions or balances.
Note: For "Nature of Assertion", you may select more than one answer.
PCAOB Assertion
Existence or Occurrence
Rights and Obligations
Completeness
Valuation or Allocation
Presentation and Disclosure
Corresponding ASB
Assertion
Existence
Occurence
Nature of Assertion
Transactions
Transactions
Transactions
Transactions
Transactions
Transactions
Transactions
Transactions
Transactions
Transactions
Balances
Balances
Balances
Balances
Balances
Balances
Balances
Balances
Balances
Balances
√
Transcribed Image Text:Complete the following chart indicating the corresponding Auditing Standards Board assertions and whether the assertion relates to transactions or balances. Note: For "Nature of Assertion", you may select more than one answer. PCAOB Assertion Existence or Occurrence Rights and Obligations Completeness Valuation or Allocation Presentation and Disclosure Corresponding ASB Assertion Existence Occurence Nature of Assertion Transactions Transactions Transactions Transactions Transactions Transactions Transactions Transactions Transactions Transactions Balances Balances Balances Balances Balances Balances Balances Balances Balances Balances √
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