Question: In testing the goodwill at an audit client in the retail industry, an auditor may seek to determine whether the account balance had been impaired.

In testing the goodwill at an audit client in the retail industry, an auditor may seek to determine whether the account balance had been impaired. Such impairment procedures would be designed to test which financial statement assertion?

a. Existence.

b. Completeness.

c. Presentation and disclosure.

d. Valuation or allocation.

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