Which of the following is NOT a class of assertions?

The identified correct answer highlights that "liquidity" is not considered a class of assertions in the context of audit assertions. Audit assertions are the representations made by management regarding the financial statements and are categorized into three main classes:

• Occurrence: This assertion addresses whether transactions and events that have been recorded actually took place.
• Completeness: This refers to whether all transactions and accounts that should be included in the financial statements are indeed included.
• Presentation: This relates to whether the financial statements are presented in accordance with applicable financial reporting standards, ensuring disclosures are made correctly and that the information provided is understandable to users.

Each of these assertions relates directly to the reliability of the financial statements. In contrast, "liquidity" typically refers to a company's ability to meet its short-term obligations and is a financial metric rather than an assertion about the financial statements. This distinction clarifies why liquidity does not fit into the established categories of assertions used in auditing.