Which of the following is NOT a category of assertions about financial statements?

Profitability is not recognized as a category of assertions about financial statements. In auditing and accounting contexts, assertions are specific claims made by management regarding the accuracy, completeness, and validity of the financial statements. The primary categories of assertions typically include completeness, existence, rights and obligations, valuation, accuracy, and cut-off.

Completeness refers to whether all transactions and accounts that should be presented in the financial statements are included. Existence focuses on whether assets, liabilities, and equity actually exist at a given date. Valuation involves ensuring that assets and liabilities are reported at appropriate amounts.

Profitability, while an important aspect of financial performance and often a focus for financial analysis, does not fit into the defined categories of assertions. It is more related to the financial results or outcome rather than a characteristic that management asserts about the financial statement components themselves. Thus, identifying profitability as not being a category of assertions aligns it correctly with the context of the question.