Which ONE of the following financial statement assertions will be supported by a sample check on the numerical sequence of dispatch notes and invoices?
Select ONE answer:
- Cut-off
- Occurrence
- Accuracy, valuation and allocation
- Completeness
Show your workings to arrive at your answer, and explain and justify your reasons:
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This multiple-choice question is suitable for Accounting KS5 classes.
The answer is 4
- Not correct
- Not correct
- Not correct
- Correct – Completeness – a sequence check will highlight missing documents which may indicate unrecorded transactions – i.e., test the completeness of sales.
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