Final answer:
The audit objective of posting and summarization is associated with the management assertion of accuracy, and this statement is true. It ensures that transactions are recorded properly, supporting the assertion that financial information is accurate.
Step-by-step explanation:
The statement 'The audit objective of posting and summarization is associated with the management assertion of accuracy' is True. When auditors are looking at the financial statements, they are concerned with several objectives, one of them being posting and summarization. This refers to the accurate recording of transactions in the correct amounts and in the appropriate accounts. The management assertion of accuracy relates to the amounts and other data relating to recorded transactions and events having been recorded appropriately. Hence, the objective of posting and summarization directly supports the assertion of accuracy.