Assignment $4$ uses the information presented in problem $10-46$Document Review Simulation$.$ Please see $10-46$ on pages $474-480.$

The controller of Keystone Computers & Networks, Inc. $($Keystone$),$ a nonissuer, prepared six exhibits relating to Keystone$$s General Account cash position at year $5$ year$-$end. A new audit assistant with your CPA firm has begun the audit of cash but has questions and comments based on a quick examination of the exhibits, now included in the working papers, and a discussion of some matters with the controller of Keystone.

Your job as senior on the engagement is to review the various points made by the assistant, including a review of the six exhibits.

Required:

A$.$ For each of the eight points made by the audit assistant, indicate the appropriate conclusion from the callout options listed and explain why. The callout options replace the highlighted phrase in each point.

B$.$ For each of the eight points $($you may combine points $5-7)$ made by the audit assistant, indicate what substantive audit procedure was most likely performed and its purpose.