(b) Assertions – classes of transactions
Occurrence. The transactions and events that have been recorded have actually occurred and pertain to the entity.
Completeness. All transactions and events that should have been recorded have been recorded.
Accuracy. The amounts and other data relating to recorded transactions and events have been recorded appropriately.
Cut-off. Transactions and events have been recorded in the correct accounting period.
Classification. Transactions and events have been recorded in the proper accounts.
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