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Which of the following management assertions is not associated with transaction-related audit

objectives?
A) Occurrence
B) Classification and understandability
C) Accuracy
D) Completeness

1 Answer

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Final answer:

The management assertion not associated with transaction-related audit objectives is Completeness. This assertion is concerned with ensuring all transactions are recorded, unlike the other assertions which tackle the actual occurrence, accuracy, and proper classification of transactions.

Step-by-step explanation:

The management assertion not associated with transaction-related audit objectives is D) Completeness. When auditors assess the transactions during an audit, they are usually concerned with whether all transactions that should have been recorded have been recorded. The other assertions - Occurrence, Accuracy, and Classification and Understandability - are directly associated with transaction-related audit objectives and involve ensuring that the transactions actually occurred, are recorded accurately, and are properly classified and understandable within the financial statements.

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