If XYZ Co. records sales revenues in its current-year financial statements for shipments that were made the first day of its following fiscal year, the assertion affected is

a. Valuation (the sales amounts are not correctly calculated).

b. Completeness (the sales were not completed at year-end).

c. Existence/occurrence (the sales did not occur during the fiscal year).

d. Ownership/rights and obligations (XYZ does not have the rights to the sales at year-end).