Accounting Multiple Choice Question – 7 September 2026

Which ONE of the following assertions is the auditor most concerned with when testing property, plant and equipment?

Select ONE answer:

1. Occurrence
2. Cut-off
3. Rights and obligations
4. Non-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 3

1. Not correct
2. Not correct
3. Correct – Only existence and rights and obligations are assertions about account balances. Occurrence and cut-off are assertions in respect of classes of transactions and events for the period.
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.