(A) Do you know which financial statement assertion is most directly related to the procedure of reviewing or recomputing amortization of intangible assets? Answer (A) is correct because the amortization of intangible assets is based on the valuation assertion. The other assertions are less directly related. Answer
(B) is mistaken because the existence or occurrence assertion answers the question of whether assets exist at a given date and whether transactions have occurred during a given period. Answer
(C) is flawed because the completeness assertion is based on whether all transactions and accounts that should be presented in the financial statements are presented. Answer
(D) is incorrect because the rights and obligations assertion deals with whether assets are the rights of the entity and liabilities are the obligations of the entity at a given date. Remember ISA 500 gives you the financial statement assertions.