53. Occurrence, Completeness, Cutoff, Accuracy, and Classification are all:

a. ASB Assertions about Account Balances

b. ASB Assertions about Events and Transactions

c. PCAOB Assertions about Events and Transactions

d. PCAOB Assertions about Account Balances

54. Classification and Understandability are assertions related to:

a. PCAOB Assertions about Events and Transactions

b. PCAOB Assertions about Account Balances

c. ASB Assertions about Account Balances

d. ASB Assertions about Events and Transactions

e. None of the above

55. Which of the following is correct about materiality?

a. Materiality should be set prior to the beginning of fieldwork.

b. Materiality thresholds should be the same for all accounts.

c. Several immaterial errors may add up to become material.

d. All of the above

e. A and C only.