Final answer:
Option B) Assertions about financial statements and correspondence to GAAP is not one of the three categories of assertions in auditing. The three actual categories are about transactions and events, account balances, and presentation and disclosure. Assertions aim to ensure financial statements comply with GAAP, but this is not a separate category.
Step-by-step explanation:
The student's question asks about the categories of assertions in auditing, which are statements that a manager makes about the financial information of a company. There are traditionally three categories of assertions that managers use to ensure that the financial statements they present are fair and accurate. These categories are: Assertions about classes of transactions and events for the period under audit, Assertions about account balances at period end, and Assertions about presentation and disclosure.
The option that is not one of these categories is B) Assertions about financial statements and correspondence to GAAP, as this is not a separate category of assertions but rather an objective that assertions aim to achieve - ensuring financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP).