Question: Match to the correct Assertions. ( Each letter can be used multiple times, once, or not at all ) : ( Worth 8 points )

Match to the correct Assertions. (Each letter can be used multiple times, once, or not at all): (Worth 8 points)
Question 9 options:
The audit objective that all revenue transactions are recorded in the correct year under audit is related most closely to which assertion?
During an audit of Property, Plant, & Equipment the auditor performed procedures to make sure disclosures such as depreciation method, and write down of PP&E, new purchases or sales of inventory are included in the footnotes. This audit procedure most likely is intended to verify management's assertion of__________.
The audit objective that cash presented in the financial statements represent real cash in a bank or money on hand is related most closely to which of the assertions?
The audit objective that the assets such as Inventory are recorded at the correct dollar amount (EX: Lower of Cost or Net Realizable Value) most closely relates to which assertion?
The audit objective that all Liability transactions and balances including new debt such as accounts payable, accrued expenses, new debt are included in the financial statements relates to which assertion?
The audit objective that Revenue is recorded only once items are shipped (title has transferred) and for actual customers most closely relates to which assertion?
Which of the following management assertions is an auditor most likely testing if the audit objective states that all Cash is reflected in the ending cash balance?
The audit objective that all accounts receivable balances include only accounts that are legally owned by the client (EX: The client has the right to receive payments from the customer, no AR account has been sold off and continues to be owned by the client, etc.) is related most closely to which assertion?

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