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An effective accounting system should identify and record only the valid transaction of the entity that occurred in the current period, which relates to the:
- An effective accounting system should identify and record only the valid transaction of the entity that occurred in the current period, which relates to the:
a. rights and obligations assertion.
b. presentation and disclosure assertion.
c. valuation or allocation assertion.
d. existence or occurrence assertion.
e. completeness assertion.
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Information Technology Auditing
Authors: Hall, J Scott Harr
3rd Edition
1133008046, 978-1439079119
