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3 votes
1. Which of following assertions is a key concern for cash?

A) classification and presentation
B) existence and classification
C) completeness and rights and obligations
D) existence and completeness

2 Answers

2 votes

Answer: Option D) Existence and completeness is the correct assertion.

Step-by-step explanation:

The key concern for cash is its existence and completeness. Cash is a current asset that is readily available to an organization and it is important to ensure that it exists and is complete in terms of the amount recorded in the financial statements. This is to ensure that the organization has sufficient funds to meet its short-term obligations.

User Nazar Litvin
by
8.4k points
4 votes

Answer:

D. Existence and completeness

Step-by-step explanation:

Hope this helps!

User Akauppi
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