Question: Tabletop External Auditors are in negotiations with a potential new audit client, FishTank Industries, Inc. FishTank Industries supplies pecialty fish, aquariums and related supplies to

 Tabletop External Auditors are in negotiations with a potential new audit

Tabletop External Auditors are in negotiations with a potential new audit client, FishTank Industries, Inc. FishTank Industries supplies pecialty fish, aquariums and related supplies to markets throughout the United States. During an initial meeting, the senior audit sta who would be assigned to the engagement are discussing assertions and deciding which assertions might apply to this account, and why. The best example of assertions that might apply to FishTank Industries, Inc. are assertions pertaining to account balances, to ensure that the balances themselves are presented in a fair and transparent manner, and assertions pertaining to events to ensure that ending balances are accurate and reflect all transactions that have occurred during the period. assertions pertaining to transactions and classes of events for the audit period in question. Examples of such assertions could be occurrence and completeness pertaining to whether recorded transactions actually occurred and whether all transactions have been recorded. assertions that relate to accuracy to ensure that transactions have been recorded at the appropriate amounts, and also that transactions that occurred in the period have been recorded in the proper accounts. None of these answer choices are correct

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