Answer: Option B
Step-by-step explanation: An auditor refers to an independent third party that checks the financial statements of a corporation for the protection of investors and other stakeholders against any fraud etc.
The auditor while checking focuses on two aspects, first is whether the value of the assets and liabilities are reported are correctly calculated that is valuation. The second is whether the expenses and revenues reported belongs to the time period in which they are reported which is called allocation.