AUD 3 Internal Control 3

Question 1

Internal Control

There are several ass____ns, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Answer 1

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Question 2

Internal Control

There are several assertions, some of which ov____p one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Answer 2

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Question 3

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to E___ts and Transactions that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Answer 3

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Question 4

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Tr_______ns that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Answer 4

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Question 5

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the pe____ of audit,

as generally presented on an entity’s income statement (CPA-CO).

Answer 5

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Question 6

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occ___ed during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Answer 6

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Question 7

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of au___,

as generally presented on an entity’s income statement (CPA-CO).

Answer 7

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Question 8

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s i_______ statement (CPA-CO).

Answer 8

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Question 9

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s income st________t (CPA-CO).

Answer 9

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Question 10

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally pre____ed on an entity’s income statement (CPA-CO).

Answer 10

Internal Control

There are several assertions, some of which overlap one another, classified into 3 categories.

The first 5 assertions relate to Events and Transactions that occurred during the period of audit,

as generally presented on an entity’s income statement (CPA-CO).

Question 11

Internal Control

There are several assertions, some of which overlap one another, classified into three cat_____es. The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness – All events or transactions pertaining to the entity that occurred.
2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).
3. Accuracy – The events or transactions have been reported in the appropriate amounts.
4. Classification – All events and transactions are included in appropriate accounts or categories.
5. Occurrence – The event or transaction, which pertains to the entity, did occur (It happened).

Answer 11

Internal Control

There are several assertions, some of which overlap one another, classified into three categories. The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness – All events or transactions pertaining to the entity that occurred.
2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).
3. Accuracy – The events or transactions have been reported in the appropriate amounts.
4. Classification – All events and transactions are included in appropriate accounts or categories.
5. Occurrence – The event or transaction, which pertains to the entity, did occur (It happened).

Question 12

Internal Control

There are several assertions, some of which overlap one another, classified into three categories. The first 5 assertions relate to Events and Transactions that occurred during the pe___d of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness
2. Period Cutoff
3. Accuracy
4. Classification
5. Occurrence

Answer 12

Internal Control

There are several assertions, some of which overlap one another, classified into three categories. The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness
2. Period Cutoff
3. Accuracy
4. Classification
5. Occurrence

Question 13

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness – All events or transactions pertaining to the e____y that occurred.

Answer 13

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness – All events or transactions pertaining to the entity that occurred.

Question 14

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness – All e____s or transactions pertaining to the entity that occurred.

Answer 14

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness – All events or transactions pertaining to the entity that occurred.

Question 15

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness – All events or tr________ns pertaining to the entity that occurred.

Answer 15

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness – All events or transactions pertaining to the entity that occurred.

Question 16

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness – All events or transactions pertaining to the entity that oc____ed.

Answer 16

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness – All events or transactions pertaining to the entity that occurred.

Question 17

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Co_______ess – All events or transactions pertaining to the entity that occurred.

Answer 17

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness – All events or transactions pertaining to the entity that occurred.

Question 18

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness – A__ events or transactions pertaining to the entity that occurred.

Answer 18

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

1. Completeness – All events or transactions pertaining to the entity that occurred.

Question 19

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Answer 19

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Question 20

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

2. Period Cutoff – All events and transactions have been re____ed in the appropriate period (Everything is reported in the right Period).

Answer 20

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Question 21

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

2. Period Cutoff – All events and transactions have been reported in the app________ period (Everything is reported in the right Period).

Answer 21

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Question 22

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

2. Period Cutoff – All events and transactions have been reported in the appropriate pe____ (Everything is reported in the right Period).

Answer 22

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Question 23

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the r____ Period).

Answer 23

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Question 24

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

2. Period Cutoff – All events and transactions have been reported in the appropriate period (Ev_______g is reported in the right Period).

Answer 24

Internal Control

The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO).

They are:

2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Question 25

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is re____ed in the right Period).

Answer 25

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Question 26

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 2. Pe____ Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Answer 26

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Question 27

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 2. Period Cut___ – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Answer 27

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Question 28

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 2. Period Cutoff – All ev___s and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Answer 28

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Question 29

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 2. Period C___ff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Answer 29

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period).

Question 30

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 3. Accuracy – The events or transactions have been reported in the appropriate am___ts.

Answer 30

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 3. Accuracy – The events or transactions have been reported in the appropriate amounts.

Question 31

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 3. Accuracy – The events or transactions have been reported in the app_______ amounts.

Answer 31

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 3. Accuracy – The events or transactions have been reported in the appropriate amounts.

Question 32

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 3. Accuracy – The events or transactions have been re____ed in the appropriate amounts.

Answer 32

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 3. Accuracy – The events or transactions have been reported in the appropriate amounts.

Question 33

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 3. Acc___cy – The events or transactions have been reported in the appropriate amounts.

Answer 33

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 3. Accuracy – The events or transactions have been reported in the appropriate amounts.

Question 34

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 3. Accuracy – The e____s or transactions have been reported in the appropriate amounts.

Answer 34

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 3. Accuracy – The events or transactions have been reported in the appropriate amounts.

Question 35

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 3. Accuracy – The events or tr_________s have been reported in the appropriate amounts.

Answer 35

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 3. Accuracy – The events or transactions have been reported in the appropriate amounts.

Question 36

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 4. Classification – All events and transactions are included in appropriate acc____s or categories.

Answer 36

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 4. Classification – All events and transactions are included in appropriate accounts or categories.

Question 37

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 4. Classification – All events and transactions are included in appropriate accounts or ca_____ies.

Answer 37

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 4. Classification – All events and transactions are included in appropriate accounts or categories.

Question 38

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 4. Cla________n – All events and transactions are included in appropriate accounts or categories.

Answer 38

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 4. Classification – All events and transactions are included in appropriate accounts or categories.

Question 39

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 4. Classification – A__ events and transactions are included in appropriate accounts or categories.

Answer 39

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 4. Classification – All events and transactions are included in appropriate accounts or categories.

Question 40

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 4. Classification – All events and transactions are in___ed in appropriate accounts or categories.

Answer 40

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 4. Classification – All events and transactions are included in appropriate accounts or categories.

Question 41

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 4. Classification – All events and tra_______ns are included in appropriate accounts or categories.

Answer 41

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 4. Classification – All events and transactions are included in appropriate accounts or categories.

Question 42

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 5. Occurrence – The e___t or transaction, which pertains to the entity, did occur (It happened).

Answer 42

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 5. Occurrence – The event or transaction, which pertains to the entity, did occur (It happened).

Question 43

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 5. Occurrence – The event or transaction, which per____s to the entity, did occur (It happened).

Answer 43

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 5. Occurrence – The event or transaction, which pertains to the entity, did occur (It happened).

Question 44

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 5. Occurrence – The event or transaction, which pertains to the e____y, did occur (It happened).

Answer 44

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 5. Occurrence – The event or transaction, which pertains to the entity, did occur (It happened).

Question 45

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 5. Occurrence – The event or transaction, which pertains to the entity, did oc___ (It happened).

Answer 45

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 5. Occurrence – The event or transaction, which pertains to the entity, did occur (It happened).

Question 46

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 5. Occ_______e – The event or transaction, which pertains to the entity, did occur (It happened).

Answer 46

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 5. Occurrence – The event or transaction, which pertains to the entity, did occur (It happened).

Question 47

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 5. Occurrence – The event or transaction, which pertains to the entity, did occur (It ha____ed).

Answer 47

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 5. Occurrence – The event or transaction, which pertains to the entity, did occur (It happened).

Question 48

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s i______ statement (CPA-CO). They are: 1. Completeness – All events or transactions pertaining to the entity that occurred. 2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period). 3. Accuracy – The events or transactions have been reported in the appropriate amounts. 4. Classification – All events and transactions are included in appropriate accounts or categories. 5. Occurrence – The event or transaction, which pertains to the entity, did occur (It happened).

Answer 48

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 1. Completeness – All events or transactions pertaining to the entity that occurred. 2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period). 3. Accuracy – The events or transactions have been reported in the appropriate amounts. 4. Classification – All events and transactions are included in appropriate accounts or categories. 5. Occurrence – The event or transaction, which pertains to the entity, did occur (It happened).

Question 49

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 1. Completeness – All events or transactions occurred. 2. Period Cutoff – All events and transactions are reported in the right Period. 3. Accuracy – The events or transactions have been reported in the appropriate amounts. 4. Classification – All events and transactions are included in appropriate accounts or categories. 5. Occurrence – The event or transaction did occur

Answer 49

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 1. Completeness – All events or transactions pertaining to the entity that occurred. 2. Period Cutoff – All events and transactions have been reported in the appropriate period (Everything is reported in the right Period). 3. Accuracy – The events or transactions have been reported in the appropriate amounts. 4. Classification – All events and transactions are included in appropriate accounts or categories. 5. Occurrence – The event or transaction, which pertains to the entity, did occur (It happened).

Question 50

Internal Control The first 5 assertions: 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence

Answer 50

Internal Control The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). They are: 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence

Question 51

Internal Control The first 5 assertions: 1. Com______ss 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence

Answer 51

Internal Control The first 5 assertions: 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence

Question 52

Internal Control The first 5 assertions: 1. Completeness 2. Per___ Cutoff 3. Accuracy 4. Classification 5. Occurrence

Answer 52

Internal Control The first 5 assertions: 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence

Question 53

Internal Control The first 5 assertions: 1. Completeness 2. Period Cut___ 3. Accuracy 4. Classification 5. Occurrence

Answer 53

Internal Control The first 5 assertions: 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence

Question 54

Internal Control The first 5 assertions: 1. Completeness 2. Period Cutoff 3. Ac____cy 4. Classification 5. Occurrence

Answer 54

Internal Control The first 5 assertions: 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence

Question 55

Internal Control The first 5 assertions: 1. Completeness 2. Period Cutoff 3. Accuracy 4. Class_______n 5. Occurrence

Answer 55

Internal Control The first 5 assertions: 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence

Question 56

Internal Control The first 5 assertions: 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occ______e

Answer 56

Internal Control The first 5 assertions: 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence

Question 57

Internal Control The first 5 assertions: 1. C__________ 2. P_____ C_____ 3. A_______ 4. C__________ 5. O_________

Answer 57

Internal Control The first 5 assertions: 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence

Question 58

Internal Control The first 5 ass______s: CPA-CO 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence

Answer 58

Internal Control The first 5 assertions: CPA-CO 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence

Question 59

Internal Control Just remember that if all revenue and expenses are properly re___ed, the CPA-CO will have no problem preparing your taxes.

Answer 59

Internal Control Just remember that if all revenue and expenses are properly reported, the CPA-CO will have no problem preparing your taxes.

Question 60

Internal Control Just remember that if all re____e and expenses are properly reported, the CPA-CO will have no problem preparing your taxes.

Answer 60

Internal Control Just remember that if all revenue and expenses are properly reported, the CPA-CO will have no problem preparing your taxes.

Question 61

Internal Control Just remember that if all revenue and ex____es are properly reported, the CPA-CO will have no problem preparing your taxes.

Answer 61

Internal Control Just remember that if all revenue and expenses are properly reported, the CPA-CO will have no problem preparing your taxes.

Question 62

Internal Control The next 4 ass______s relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours). 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct). 3. Completeness – All assets, liabilities, and equity that should have been reported are included on the financial statement. 4. Existence – Assets, liabilities, and equity reported on the financial statements exist as of the financial statement date (They are real).

Answer 62

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours). 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct). 3. Completeness – All assets, liabilities, and equity that should have been reported are included on the financial statement. 4. Existence – Assets, liabilities, and equity reported on the financial statements exist as of the financial statement date (They are real).

Question 63

Internal Control The next 4 assertions relate to Acc____ Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Answer 63

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 64

Internal Control The next 4 assertions relate to Account Ba______s, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Answer 64

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 65

Internal Control The next 4 assertions relate to Account Balances, am___ts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Answer 65

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 66

Internal Control The next 4 assertions relate to Account Balances, amounts re____ed as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Answer 66

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 67

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the d___ of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Answer 67

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 68

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the ba_____ sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Answer 68

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 69

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sh___ (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Answer 69

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 70

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the fi_______ statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Answer 70

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 71

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The e____y has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Answer 71

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence • Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Question 72

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has r____ts to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Answer 72

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Question 73

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items re___ed as assets and liabilities are the obligations of the entity (they are ours).

Answer 73

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Question 74

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items reported as as___s and liabilities are the obligations of the entity (they are ours).

Answer 74

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Question 75

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items reported as assets and lia____ies are the obligations of the entity (they are ours).

Answer 75

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Question 76

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obli____ns of the entity (they are ours).

Answer 76

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Question 77

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the e____y (they are ours).

Answer 77

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Question 78

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Ri____s and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Answer 78

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Question 79

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights a__ Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Answer 79

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Question 80

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obli____ns – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Answer 80

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations – The entity has rights to those items reported as assets and liabilities are the obligations of the entity (they are ours).

Question 81

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All as__s, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Answer 81

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).al).

Question 82

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, lia____ies, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Answer 82

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Question 83

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and eq___y related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Answer 83

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Question 84

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity re___ed items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Answer 84

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Question 85

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related i___s are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Answer 85

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Question 86

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in am___ts that are appropriate as of the date of the financial statements (Amount is correct).

Answer 86

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Question 87

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are app_______e as of the date of the financial statements (Amount is correct).

Answer 87

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Question 88

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the d___ of the financial statements (Amount is correct).

Answer 88

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Question 89

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is cor___t).

Answer 89

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Question 90

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Am___t is correct).

Answer 90

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Question 91

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allo____n and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Answer 91

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Question 92

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Va______n – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Answer 92

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 2. Allocation and Valuation – All assets, liabilities, and equity related items are reported in amounts that are appropriate as of the date of the financial statements (Amount is correct).

Question 93

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All as___s, liabilities, and equity that should have been reported are included on the financial statement

Answer 93

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, liabilities, and equity that should have been reported are included on the financial statement.

Question 94

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, li______es, and equity that should have been reported are included on the financial statement.

Answer 94

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, liabilities, and equity that should have been reported are included on the financial statement.

Question 95

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, liabilities, and eq___y that should have been reported are included on the financial statement.

Answer 95

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, liabilities, and equity that should have been reported are included on the financial statement.

Question 96

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, liabilities, and equity that sh____ have been reported are included on the financial statement.

Answer 96

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, liabilities, and equity that should have been reported are included on the financial statement.

Question 97

Internal Control The next 4 assertions relate to Account Balances, amounts re____ed as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, liabilities, and equity that should have been re____ed are included on the financial statement.

Answer 97

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, liabilities, and equity that should have been reported are included on the financial statement.

Question 98

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, liabilities, and equity that should have been reported are in____ed on the financial statement.

Answer 98

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, liabilities, and equity that should have been reported are included on the financial statement.

Question 99

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, liabilities, and equity that should have been reported are included on the f_______ statement.

Answer 99

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, liabilities, and equity that should have been reported are included on the financial statement.

Question 100

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Com_______ss – All assets, liabilities, and equity that should have been reported are included on the financial statement.

Answer 100

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 3. Completeness – All assets, liabilities, and equity that should have been reported are included on the financial statement.

Question 101

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – As___s, liabilities, and equity reported on the financial statements exist as of the financial statement date (They are real).

Answer 101

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, liabilities, and equity reported on the financial statements exist as of the financial statement date (They are real).

Question 102

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, liabilities, and eq___y reported on the financial statements exist as of the financial statement date (They are real).

Answer 102

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, liabilities, and equity reported on the financial statements exist as of the financial statement date (They are real).

Question 103

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, liabilities, and equity reported on the financial statements e___t as of the financial statement date (They are real).

Answer 103

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, liabilities, and equity reported on the financial statements exist as of the financial statement date (They are real).

Question 104

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, li______ies, and equity reported on the financial statements exist as of the financial statement date (They are real).

Answer 104

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, liabilities, and equity reported on the financial statements exist as of the financial statement date (They are real).

Question 105

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, liabilities, and equity re____ed on the financial statements exist as of the financial statement date (They are real).

Answer 105

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, liabilities, and equity reported on the financial statements exist as of the financial statement date (They are real).

Question 106

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, liabilities, and equity reported on the f________ statements exist as of the financial statement date (They are real).

Answer 106

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, liabilities, and equity reported on the financial statements exist as of the financial statement date (They are real).

Question 107

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, liabilities, and equity reported on the financial statements exist as of the financial statement date (They are r__l).

Answer 107

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, liabilities, and equity reported on the financial statements exist as of the financial statement date (They are real).

Question 108

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Ex_______e – Assets, liabilities, and equity reported on the financial statements exist as of the financial statement date (They are real).

Answer 108

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). They are: 4. Existence – Assets, liabilities, and equity reported on the financial statements exist as of the financial statement date (They are real).

Question 109

Internal Control The first 5 assertions: CPA-CO 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence Just remember that if all revenue and expenses are properly reported, the CPA-CO will have no problem preparing your taxes.

Answer 109

Internal Control The first 5 assertions: CPA-CO 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence Just remember that if all revenue and expenses are properly reported, the CPA-CO will have no problem preparing your taxes.

Question 110

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence Of course, if an entity has a healthy bal___e sheet, it is running at good RACE.

Answer 110

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence Of course, if an entity has a healthy balance sheet, it is running at good RACE.

Question 111

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence Of course, if an entity has a healthy balance sh__t, it is running at good RACE.

Answer 111

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence Of course, if an entity has a healthy balance sheet, it is running at good RACE.

Question 112

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence Of course, if an entity has a h______y balance sheet, it is running at good RACE.

Answer 112

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence Of course, if an entity has a healthy balance sheet, it is running at good RACE.

Question 113

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. R____ts and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Answer 113

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 114

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Ob______ns 2. Allocation and Valuation 3. Completeness 4. Existence

Answer 114

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 115

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights a__ Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Answer 115

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 116

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. All_______n and Valuation 3. Completeness 4. Existence

Answer 116

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 117

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Va______n 3. Completeness 4. Existence

Answer 117

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 118

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Com_______ss 4. Existence

Answer 118

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 119

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Ex______e

Answer 119

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 120

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. R_______ ___ __________ 2. A______ ___ __________ 3. C____________ 4. E_________

Answer 120

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 121

Internal Control The next 4 assertions relate to Ac___nt Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Answer 121

Internal Control The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence

Question 122

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disc____es (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place). 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct). 3. Completeness – All information that should be presented is disclosed (It is All included). 4. Occurrence – Disclosed events, transactions and other matters have occurred and pertain to the entity. 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Clear). Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 122

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place). 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct). 3. Completeness – All information that should be presented is disclosed (It is All included). 4. Occurrence – Disclosed events, transactions and other matters have occurred and pertain to the entity. 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Clear). Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 123

Internal Control There are several ass_____ns, some of which overlap one another, classified into 3 categories. ----------- 1st Category ------------- The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence If all revenue and expenses are properly reported, the CPA-CO will have no problem preparing your taxes. ----------- 2nd Category ------------- The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence If an entity has a healthy balance sheet, it is running at good RACE. ----------- 3rd Category ------------- The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 123

Internal Control There are several assertions, some of which overlap one another, classified into 3 categories. ----------- 1st Category ------------- The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence If all revenue and expenses are properly reported, the CPA-CO will have no problem preparing your taxes. ----------- 2nd Category ------------- The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence If an entity has a healthy balance sheet, it is running at good RACE. ----------- 3rd Category ------------- The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 124

Internal Control The final 5 assertions relate to the Presentation of the financial st________s and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 124

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 125

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 125

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 126

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – A__ information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Answer 126

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place). 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct). 3. Completeness – All information that should be presented is disclosed (It is All included). 4. Occurrence – Disclosed events, transactions and other matters have occurred and pertain to the entity. 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Clear).

Question 127

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All inf________ presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Answer 127

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Question 128

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and di______ed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Answer 128

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Question 129

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to e___ts, transactions, and other matters that pertain to the entity (It all Took place).

Answer 129

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Question 130

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, tr_______ns, and other matters that pertain to the entity (It all Took place).

Answer 130

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Question 131

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other m___ers that pertain to the entity (It all Took place).

Answer 131

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Question 132

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the e____y (It all Took place).

Answer 132

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Question 133

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It a__ Took place).

Answer 133

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Question 134

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Ob_______ns – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Answer 134

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Question 135

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. R_____s and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Answer 135

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Question 136

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information pre____ed and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Answer 136

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 1. Rights and Obligations – All information presented and disclosed is related to events, transactions, and other matters that pertain to the entity (It all Took place).

Question 137

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is a__ correct).

Answer 137

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Question 138

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – B___ financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Answer 138

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Question 139

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial inf________ is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Answer 139

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Question 140

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly pre____ed, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Answer 140

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Question 141

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly dis____ed, and provides appropriate amounts (We Know it is all correct).

Answer 141

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Question 142

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate a____ts (We Know it is all correct).

Answer 142

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Question 143

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all co____t).

Answer 143

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Question 144

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonf_______l information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Answer 144

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Question 145

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fa__ly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Answer 145

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Question 146

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Acc____y and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Answer 146

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Question 147

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Val_____n – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Answer 147

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). They are: 2. Accuracy and Valuation – Both financial and nonfinancial information is fairly presented, properly disclosed, and provides appropriate amounts (We Know it is all correct).

Question 148

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Completeness – A__ information that should be presented is disclosed (It is All included).

Answer 148

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Completeness – All information that should be presented is disclosed (It is All included).

Question 149

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Completeness – All information that should be presented is disclosed (It is All in____ed).

Answer 149

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Completeness – All information that should be presented is disclosed (It is All included).

Question 150

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Completeness – All information that should be pr_____ted is disclosed (It is All included).

Answer 150

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Completeness – All information that should be presented is disclosed (It is All included).

Question 151

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Com______ess – All information that should be presented is disclosed (It is All included).

Answer 151

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Completeness – All information that should be presented is disclosed (It is All included).

Question 152

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Completeness – All information that sh____ be presented is disclosed (It is All included).

Answer 152

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Completeness – All information that should be presented is disclosed (It is All included).

Question 153

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Completeness – All information that should be presented is disclosed (It is A__ included).

Answer 153

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Completeness – All information that should be presented is disclosed (It is All included).

Question 154

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Completeness – All inf_______n that should be presented is disclosed (It is All included).

Answer 154

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 3. Completeness – All information that should be presented is disclosed (It is All included).

Question 155

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 4. Occurrence – Dis____ed events, transactions and other matters have occurred and pertain to the entity.

Answer 155

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 4. Occurrence – Disclosed events, transactions and other matters have occurred and pertain to the entity.

Question 156

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 4. Occurrence – Disclosed events, transactions and other m______s have occurred and pertain to the entity.

Answer 156

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 4. Occurrence – Disclosed events, transactions and other matters have occurred and pertain to the entity.

Question 157

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 4. Occurrence – Disclosed events, transactions and other matters have occurred and pertain to the e____y.

Answer 157

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 4. Occurrence – Disclosed events, transactions and other matters have occurred and pertain to the entity.

Question 158

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 4. Occurrence – Disclosed events, tra________s and other matters have occurred and pertain to the entity.

Answer 158

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 4. Occurrence – Disclosed events, transactions and other matters have occurred and pertain to the entity.

Question 159

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 4. Occ_______e – Disclosed events, transactions and other matters have occurred and pertain to the entity.

Answer 159

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 4. Occurrence – Disclosed events, transactions and other matters have occurred and pertain to the entity.

Question 160

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 4. Occurrence – Disclosed events, transactions and other matters have occurred and per___n to the entity.

Answer 160

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 4. Occurrence – Disclosed events, transactions and other matters have occurred and pertain to the entity.

Question 161

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is appropriately presented and desc___ed and disclosures are expressed in a clear manner (Everything is Clear).

Answer 161

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Clear).

Question 162

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Cl___).

Answer 162

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Clear).

Question 163

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Ev___thing is Clear).

Answer 163

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Clear).

Question 164

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Un________ability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Clear).

Answer 164

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Clear).

Question 165

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Cla__________n – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Clear).

Answer 165

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Clear).

Question 166

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is app________ly presented and described and disclosures are expressed in a clear manner (Everything is Clear).

Answer 166

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Clear).

Question 167

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a cl__r manner (Everything is Clear).

Answer 167

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Clear).

Question 168

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are exp____ed in a clear manner (Everything is Clear).

Answer 168

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 5. Understandability and Classification – Financial information is appropriately presented and described and disclosures are expressed in a clear manner (Everything is Clear).

Question 169

Internal Control The final 5 assertions relate to the Pre________n of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 169

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 170

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. R_____ and O_________ 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 170

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 171

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. A_______ and V_________ 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 171

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 172

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. C___________ 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 172

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 173

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. O__________ 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 173

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 174

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. U____________ and C___________ Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 174

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 175

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. R______ ___ ____________ 2. A________ ___ ____________ 3. C____________ 4. O___________ 5. U____________ ___ ______________ Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 175

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 176

Internal Control There are several assertions, some of which overlap one another, classified into 3 categories. ----------- 1st Category ------------- The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence If all revenue and expenses are properly reported, the CPA-CO will have no problem preparing your taxes. ----------- 2nd Category ------------- The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence If an entity has a healthy balance sheet, it is running at good RACE. ----------- 3rd Category ------------- The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 176

Internal Control There are several assertions, some of which overlap one another, classified into 3 categories. ----------- 1st Category ------------- The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence If all revenue and expenses are properly reported, the CPA-CO will have no problem preparing your taxes. ----------- 2nd Category ------------- The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence If an entity has a healthy balance sheet, it is running at good RACE. ----------- 3rd Category ------------- The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 177

Internal Control ----------- 1st Category ------------- The first 5 assertions presented on income statement CPA-CO ----------- 2nd Category ------------- The next 4 assertions presented on the balance sheet RACE ----------- 3rd Category ------------- The final 5 assertions Presentation of the financial statements and the financial statement Disclosures RACOU–n (Raccoon)

Answer 177

Internal Control ----------- 1st Category ------------- The first 5 assertions presented on income statement CPA-CO ----------- 2nd Category ------------- The next 4 assertions presented on the balance sheet RACE ----------- 3rd Category ------------- The final 5 assertions Presentation of the financial statements and the financial statement Disclosures RACOU–n (Raccoon)

Question 178

Internal Control There are several assertions, some of which overlap one another, classified into 3 categories. ----------- 1st Category ------------- The first 5 assertions presented on income statement CPA-CO 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence ----------- 2nd Category ------------- The next 4 assertions presented on the balance sheet RACE 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence ----------- 3rd Category ------------- The final 5 assertions Presentation of the financial statements and the financial statement Disclosures RACOU–n (Raccoon) 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification

Answer 178

Internal Control There are several assertions, some of which overlap one another, classified into 3 categories. ----------- 1st Category ------------- The first 5 assertions presented on income statement CPA-CO 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence ----------- 2nd Category ------------- The next 4 assertions presented on the balance sheet RACE 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence ----------- 3rd Category ------------- The final 5 assertions Presentation of the financial statements and the financial statement Disclosures RACOU–n (Raccoon) 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification

Question 179

Internal Control If an e____y has a healthy balance sheet, it is running at good RACE.

Answer 179

Internal Control If an entity has a healthy balance sheet, it is running at good RACE.

Question 180

Internal Control If an entity has a healthy ba_____ sheet, it is running at good RACE.

Answer 180

Internal Control If an entity has a healthy balance sheet, it is running at good RACE.

Question 181

Internal Control If an entity has a healthy balance sh___, it is running at good RACE.

Answer 181

Internal Control If an entity has a healthy balance sheet, it is running at good RACE.

Question 182

Internal Control If an entity has a healthy balance sheet, it is running at good RACE.

Answer 182

Internal Control If an entity has a healthy balance sheet, it is running at good RACE.

Question 183

Internal Control If an entity has a healthy balance sheet, it is running at good R___.

Answer 183

Internal Control If an entity has a healthy balance sheet, it is running at good RACE.

Question 184

Internal Control If an entity has a healthy balance sheet, it is running at good ____.

Answer 184

Internal Control If an entity has a healthy balance sheet, it is running at good RACE.

Question 185

Internal Control ----------- 2nd Category ------------- The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence If an entity has a healthy balance sheet, it is running at good R___.

Answer 185

Internal Control ----------- 2nd Category ------------- The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence If an entity has a healthy balance sheet, it is running at good RACE.

Question 186

Internal Control 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence If an entity has a healthy balance sheet, it is ru__ing at good RACE.

Answer 186

Internal Control 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence If an entity has a healthy balance sheet, it is running at good RACE.

Question 187

Internal Control 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence If an entity has a he____y balance sheet, it is running at good RACE.

Answer 187

Internal Control 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence If an entity has a healthy balance sheet, it is running at good RACE.

Question 188

Internal Control Raccoons (RACOU-n’s) are always pre____ing and disclosing my garbage at night!!

Answer 188

Internal Control Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 189

Internal Control Raccoons (RACOU-n’s) are always presenting and dis____ing my garbage at night!!

Answer 189

Internal Control Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 190

Internal Control The final 5 assertions relate to the Presentation of the f________ statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 190

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 191

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Ra____ns (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 191

Internal Control The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Question 192

Internal Control There are several assertions, some of which overlap one another, classified into 3 categories. ----------- 1st Category ------------- The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence If all revenue and expenses are properly reported, the CPA-CO will have no problem preparing your taxes. ----------- 2nd Category ------------- The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence If an entity has a healthy balance sheet, it is running at good RACE. ----------- 3rd Category ------------- The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!

Answer 192

Internal Control There are several assertions, some of which overlap one another, classified into 3 categories. ----------- 1st Category ------------- The first 5 assertions relate to Events and Transactions that occurred during the period of audit, as generally presented on an entity’s income statement (CPA-CO). 1. Completeness 2. Period Cutoff 3. Accuracy 4. Classification 5. Occurrence If all revenue and expenses are properly reported, the CPA-CO will have no problem preparing your taxes. ----------- 2nd Category ------------- The next 4 assertions relate to Account Balances, amounts reported as of the date of the financial statements, as generally presented on the balance sheet (RACE). 1. Rights and Obligations 2. Allocation and Valuation 3. Completeness 4. Existence If an entity has a healthy balance sheet, it is running at good RACE. ----------- 3rd Category ------------- The final 5 assertions relate to the Presentation of the financial statements and the financial statement Disclosures (RACOU–n (Raccoon). 1. Rights and Obligations 2. Accuracy and Valuation 3. Completeness 4. Occurrence 5. Understandability and Classification Raccoons (RACOU-n’s) are always presenting and disclosing my garbage at night!!