Question: For each given case, indicate 1. whether it is an assertion about classes of Transactions and Events (TE) or an assertion about Account Balances

For each given case, indicate 1. whether it is an assertion about

For each given case, indicate 1. whether it is an assertion about classes of "Transactions and Events (TE)" or an assertion about "Account Balances (AB)". (2 points) 2. choose the suitable management assertion for the class (4 points) 3. choose the suitable audit objective for the management assertion (4 points) # Case TE- Management Assertion AB? Audit Objective 1 Accounts receivables are written down to their realizable value. 2 Company recorded the purchase payment transactions to the proper accounts. 3 Discounts on sales transactions are recorded with correct amounts. 4 Footnote disclosures related to payroll transactions are clear and understandable. 5 Property, plant, and equipment are classified into the proper accounts.

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