10 pts Question 16 Match the substantive audit procedure to the assertion being tested. (More than one audit procedure can be used to test the same assertion.) The proced ures all relate to the sales cycle. Select a sample of invoices issued (recorded) during the last 5 days of the year and agree the invoices to the packing slip as to date, description, and quantity. Rights/Obligations Select a sample of credit memos issued (recorded) during the first 5 days after year Presentation/Disclosure end and determine whether the credit relates to a sale recorded in the year under audit. Review the accounts receivable aging report Completeness and discuss balances over 90 days past due with the accounting manager. Obtain a listing of revenues (by customer) for Existence/Occurence. the year. Determine whether sales to any customers represent more than 5 % of total sales for the year. Review loan agreements to determine whether receivables are pledged as security. Valuation