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 (AB).

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. choose the suitable management assertion for the class

3. choose the suitable audit objective for the management assertion

# Case TE? AB? Management Assertion Audit Objective

1 Company recorded the payment transactions on correct dates.

2 All the buildings exist.

3 Buildings are not under collateral for loan contracts.

4 Salary payments are done to the employees of the company.

5 Payment transactions are presented clear and understandably in the footnotes.

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