Question: Explain how the following transaction assertions are related to the account balance assertions: Transaction Assertions Account Balance Assertions a. Cutoff .............. Existence and Completeness b.

Explain how the following transaction assertions are related to the account balance assertions:
Transaction Assertions Account Balance Assertions
a. Cutoff .............. Existence and Completeness
b. Classification ............. Existence and Completeness
c. Accuracy ............. Valuation and Allocation

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