Accounting Multiple Choice Question – 11 August 2025

Which one of the following best describes the concept of assurance?

Assurance refers to….?

Select ONE answer:

1. an assurance firm’s high level of satisfaction as to the reliability of an assertion being made by one party for the use of another party
2. the use of another party a user’s satisfaction as to the reliability of an assertion being made by another party
3. an assurance firm’s limited level of satisfaction as to the reliability of an assertion being made by one party for the use of another party
4. an assurance firm’s satisfaction as to the reliability of an assertion being made by one party for

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

1. Not correct
2. Not correct
3. Not correct
4. Correct == > Assurance refers to an assurance firm’s satisfaction as to the reliability of an assertion being made by one party for the use of another party. This assurance is then expressed in an assurance report with a negative or positive conclusion given as appropriate to that particular engagement.

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