Match the following assertions related to marketable securities with their associated description: (a) Existence or occurrence, (b)

Question:

Match the following assertions related to marketable securities with their associated description:
(a) Existence or occurrence,
(b) Completeness,
(c) Rights and obligations,
(d) Valuation or allocation,
(e) Presentation and disclosure.
1. The marketable securities balances include all securities transactions that have taken place during the period.
2. The company has title to marketable securities accounts as of the date.
3. The recorded balances reflect the true underlying economic value of those assets.
4. Marketable securities are properly classified on the and disclosed in the notes to the financial statements.
5. Marketable securities exist at the date.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...