Understanding whether agreed-upon procedures relate to a specified element, account, or item of a financial statement or to a nonfinancial statement assertion is important because the professional pronouncements used for the two situations differ. SAS No. 75, "Engagements to Apply Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement" applies in the first case, and SSAE No. 4, "Agreed-Upon Procedures Engagements" applies in the second case. Following are a series of items for which an independent accountant might apply agreed-upon procedures:

1. The cash accounts included in an entity's general ledger maintained for the purpose of preparing financial statements represented as being in accordance with generally accepted accounting principles.

2. A schedule of accounts receivable that reflects the accounts receivable is presented in conformity with generally accepted accounting principles.

3. An entity maintained an effective internal control over financial reporting based on established criteria.

4. The accounts included in the caption "Property and Equipment" identified in a Statement of Assets, Liabilities, and Capital presented on an income tax basis.

5. An entity complied with requirements of specified laws, regulations, rules, contracts, and grants.

6. Investment securities were traded on approved exchanges.

7. The gross income component of a Statement of Operations was presented in accordance with the rules of a regulatory agency.

8. Statistical production data complied with policy.

Required: 

For each item (1) though (8), indicate whether the item is a specified element, account, or item of a financial statement or a nonfinancial statement assertion.