During the course of audit of a company CA Nitin has verified various assertions relating to Income Statement and Balance Sheet items. Consider the…
CA Intermediate · Auditing and Ethics · PYQS · September 2025
During the course of audit of a company CA Nitin has verified various assertions relating to Income Statement and Balance Sheet items. Consider the following statements: Statement 1: Occurrence and Valuation are assertions relating to Balance Sheet captions. Statement 2: Measurement and Existence are assertions relating to Income Statement captions. Statement 3: Measurement and Completeness are assertions relating to Income Statement captions. Statement 4: Existence and Rights & Obligations are assertions relating to Balance Sheet captions. Choose the correct option from below:
Suggested Answer and Working Notes:
Correct Answer: Option (D)
Only 3 & 4 are correct.
Topics: Audit Evidence
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