In the audit of investment securities, auditors develop specific audit assertions related to the investments. They then design specific substantive procedures to obtain evidence about each of these assertions. Following is a selection of investment securities assertions:
1. Investments are properly described and classified in the financial statements.
2. Recorded investments represent investments actually owned at the balance- sheet date.
3. Investments are properly valued at the balance- sheet date.

Required:
For each of these assertions, select the following audit procedure that is best suited for the audit plan. Select only one procedure for each assertion. A procedure may be selected once or not at all.
a. Trace opening balances in the general ledger to prior- year audit documentation.
b. Determine whether employees who are authorized to sell investments have access to cash.
c. Examine supporting documents for a sample of investment transactions to verify that pre-0numbered documents are used.
d. Determine whether any other- than- temporary impairments in the carrying value of investments have been properly recorded.
e. Verify that transfers from the trading portfolio to the held- to- maturity investment port-folio have been properly recorded.
f. Obtain positive confirmations as of the balance sheet date of investments held by independent custodians.
g. Trace investment transactions to minutes of the board of directors meetings to deter-mine that transactions were properly authorized.