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Single source of US GAAP amended through" - Which management assertion is most relevant?

A) Completeness
B) Valuation or Allocation
C) Rights and Obligations
D) Presentation and Disclosure

1 Answer

5 votes

Final answer:

The most relevant management assertion in the given scenario is Presentation and Disclosure.

Option D.

Step-by-step explanation:

The management assertion that is most relevant in the context of a single source of US GAAP amended through is Presentation and Disclosure.

Presentation and Disclosure refers to the accurate and transparent representation of financial information in a company's financial statements.

It ensures that the information is presented in a manner that allows external users to understand the company's financial position, performance, and cash flows.

In the given scenario, the amendment to the US GAAP represents a change in accounting policies or reporting requirements.

Therefore, ensuring proper presentation and disclosure of the amended GAAP is crucial to provide relevant and reliable information to the stakeholders.

User Egor Ignatenkov
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