Accounting Multiple Choice Question – 17 October 2025

Which ONE of the following is not an assertion used by the auditor about different classes of transactions?

Select ONE answer:

1. Occurrence
2. Completeness
3. Cut-off
4. Existence

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 => existence would be used in respect of a balance, not a class of transactions.

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