Question: For each audit procedure (1-5) select the assertion that is most likely being tested. Group of answer choices 1. Inspect loan agreements and minutes of

For each audit procedure (1-5) select the assertion that is most likely being tested. Group of answer choices 1. Inspect loan agreements and minutes of the board of directors for indications of pledged or assigned receivables. Rights and obligations 2. Review the client's aging of accounts receivable for large an unusual items. Valuation 3. Review the shipping documents to check the date that product was shipped to XYZ Company. Cutoff 4. Select a sample of shipping documents and trace to recorded sales. Completeness 5. Select a sample of disbursements from the accounting period following the balance sheet date. Vouch them to supporting documents (invoice, receiving report)

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