Question: Classification is an important assertion for expenses because: (a) There is often an incentive to overstate expenses. (b) Some expenses are subject to specific disclosure

Classification is an important assertion for expenses because: 

(a) There is often an incentive to overstate expenses. 

(b) Some expenses are subject to specific disclosure requirements. 

(c) Vouching is a useful audit technique for expenses. 

(d) Auditing assets gives no evidence about certain expenses.

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