An auditor seeks to test the accuracy of the amount recorded as revenue on a contract with

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An auditor seeks to test the accuracy of the amount recorded as revenue on a contract with a customer under ASC 606. Which PCAOB assertion is most likely being tested?

a. Rights and obligations.

b. Valuation or allocation.

c. Presentation and disclosure.

d. Completeness.

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Auditing And Assurance Services

ISBN: 9781266796852

9th Edition

Authors: Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser, Jay Thibodeau

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Question Posted: May 20, 2023 06:19 AM

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An auditor seeks to test the accuracy of the amount recorded as revenue on a contract with

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a Incorrect Although rights and obligations is an important assertion it is not the most relevant assertion for the revenue account Management is more ...View the full answer

Auditing And Assurance Services

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