Question

With regard to management assertions, it is true to say that ________. a. management should be consulted to determine which assertions apply to which accounts. b. none of the assertions apply to accounts and their balances c. only some assertions apply to accounts and their balances d. all assertions apply to all accounts and balanceswhich accounts

Answer 1

c. only some assertions apply to accounts and their balances

Step-by-step explanation:

Management assertions or financial statement assertions means the implicit or the explicit ones that could be applied for preparing the financial statements for making to its users

So if we talk about the management assertions so there is some assertions that need to apply for the account and their balances purpose

Therefore the option c is correct