From the dropdown menu, select the audit assertion relating to classes of transactions to the appropriate audit objectives for sales and receivables.

		Assertion		Audit Objective
1.		Select the audit assertion. CompletenessOccurrenceCut-off		Sales adjustment transactions represent authorized discounts, returns and allowances, and bad debts applicable to the period.
2.		Select the audit assertion. OccurrenceCut-offCompleteness		All cash received from customers during the period is recorded as cash receipts.
3.		Select the audit assertion. OccurrenceCompletenessCut-off		Particularly relevant to transactions around the year end; all sales, cash receipts, and sales adjustment transactions arising before the period end are recorded in the current period and those arising after the period end are included in the next accounting period.
4.		Select the audit assertion. OccurrenceCut-offCompleteness		All discounts, returns and allowances, and bad debts arising during the period are recorded as sales adjustments.