ASSERTION Definition

Bookmark and Share

ASSERTION is when management asserts financial statements are correct with regard to existence or occurrence of assets, liabilities or transactions, completeness of information in the financial statements, rights and obligations at a point in time, appropriate valuation or allocation, presentation, and disclosure.

Learn new Accounting Terms

STORAGE can be: a. a depository for goods, e.g. a stockroom or warehouse; b. the process of storing information in a computer memory or on a magnetic tape or disk; or c. an electronic memory device.

MORTGAGE BOND is a bond in which the issuer has granted the bondholders a lien against the pledged assets.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.