(a) Audit tests include tests of controls and substantive procedures. Substantive procedures can be divided into substantive analytical procedures, tests of balances, tests of transactions and tests of disclosures.

Required: For each test in the table below, select the type of audit test it represents. please answer as per Australian audit standard (3 marks) ( 30-50 words)

1 Examine the financial report to determine whether all related party loans are properly presented type of test ?

2 Recalculate depreciation figure type of test ?

3 Trace sales recorded in the sales journal to shipping documents type of test ?

4. Examine sales invoices for initials to indicate that prices and extensions have been checked

5.Check cost of closing inventory to subsequent sales prices

6. Confirm loan balances with financial institutions

4. 4 Examine sales invoices for initials to indicate that prices and extensions have been checked

5 Check cost of closing inventory to subsequent sales prices

6 Confirm loan balances with financial institutions