ACC450 W6Assignment.docx ACC450 Problems Week 6 Grantham University Problems Week 6

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ACC450 W6Assignment.docx ACC450 Problems Week 6 Grantham University Problems Week 6 ï‚· Chapter 11: 11-35. Match the following assertions with their associated description: (a) existence... /occurrence, (b) completeness, (c) rights and obligations, (d) valuation or allocation, (e) presentation and disclosure. 1. (c) rights and obligationsThe company has title to the inventory as of the balance sheet date. 2. (a) existence/occurrenceInventory balances exist at the balance sheet date. 3. (e) presentation and disclosureInventory is properly classified on the balance sheet and disclosed in the notes to the financial statements. 4. (b) completenessInventory balances include all inventory transactions that have taken place during the period. 5. (d) valuation or allocationThe recorded balances reflect the true underlying economic value of those assets. 11-36. Match the following assertions with their asso. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [Show More]

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