For each audit activity, identify the PCAOB assertion that matches with the activity. Each activity has one answer, but the assertions are used more than once.

- A. B. C. D. E.	Review lease agreements for capital leases.
- A. B. C. D. E.	Select a sample of inventory items from the receiving reports and follow the items to inventory records.
- A. B. C. D. E.	Select a sample of fixed asset additions and ask to see the assets.
- A. B. C. D. E.	Review the client's calculation of the allowance for doubtful accounts.
- A. B. C. D. E.	Compare sales invoice quantities to shipping document quantities to verify the client's assertion that this procedure is done by client personnel.
- A. B. C. D. E.	Select a sample of entries in the payroll journal and match the employee name, date of payment, and amount of pay to the employee personnel file.
- A. B. C. D. E.	Ask production and sales personnel concerning possible obsolete or slow-moving inventory.
- A. B. C. D. E.	Watch that an independent person double-checks the payroll wage rates and calculations before check are printed.
- A. B. C. D. E.	Calculate the percentage of sales for salary and wages expense for this year and the prior year for reasonable presentation.
- A. B. C. D. E.	Send a form to the bank for the balances of the payroll checking accounts.

A.	Existence or Occurance
B.	Completeness
C.	Valuation or Allocation
D.	Rights and obligations
E.	Presentation and Disclosure