Question: auditor is testing the valuation and allocation assertion about cash. For this purpose, the auditor shouldCount all cash and negotiable securitiesDetermine whether the ending balance

auditor is testing the valuation and allocation assertion about cash. For this purpose, the auditor shouldCount all cash and negotiable securitiesDetermine whether the ending balance reflects all transactions.Ordinarily assign a lower inherent risk to U.S. currency than foreign currency.Compare general ledger balances with the financial statement balances.

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