1 Match each audit objective to the correct management assertion. Verify that the AR balance represents amounts actually owed to the organization at the balance sheet date. Establish that revenue from the sales transactions represent goods shipped and services rendered during the period covered by the financial statements. Determine that all amounts owed to the organization at the balance sheet date are reflected in AR. Verify that all sales for shipped goods, all services rendered, and all returns and allowances for the period are reflected in the financial statements. A. Rights and Obligations B. Completeness C. Existence/Occurrence D. Presentation and Disclosure E. Accuracy F. Validation/Allocation Verify that revenue transactions are accurately computed and based on current prices and correct quantities. Ensure that the AR subsidiary ledger, the Sales Invoice file, and the Remittance file are mathematically correct and agree with general ledger accounts. Determine that the organization has a legal right to recorded AR. Customer accounts that have been sold or factored have been removed from the AR balance. Determine that the AR balance states its net realizable value. Establish that the allocation for uncollectible accounts is appropriate. Verify AR and revenues reported for the period are properly described and classified in the financial statements