Match the following in the term of Assertions and Explanation:

List I (Assertions)	List II (Explanations)
a. Cut-off	1. Assets and liabilities exist
b. Classification	2. Transactions and events have been recorded in proper accounts
c. Occurrence	3. Transactions and events have been recorded in the correct accounting period
d. Existence	4. Transactions and events that have been recorded, have occurred and pertain to the entity

A. a-1, b-3, c-2, d-4

B. a-3, b-2, c-4, d-1

C. a-2, b-1, c-3, d-4

D. a-4, b-3, c-2, d-1

Answer: Option B