Problem I1: Matching (40 Points 2 poists each) For cach of the audit peucedures listed, indicate the lester of the management assortion the procedure hest addresses (only t assertion per procedure, so with S audit assertions, some assertions will be used more than once) In ddition to the assertion, indicate number of the type of audit test that is bcing performed. There are 10aud prisedures and 10 types of audit tests and exh "dit procedure is matched to only onw testtype andonly test type matches an audit procedure. Types of Audit Test A. Completeness B. Existence or Oxcurrence C. Valuation or Allocation D. Rights and Obligations E. Presentation and Disclosure 1. Analytical Procedures 2. Confimation 3. Inspection 4. Inquiry 8. Scanning 9. Tracing 10. Vouching Management Type of Assertion Audit Tes Audit Procedures Review the eclient's calculation of the allowance for doubtful accounts. Select a sample of receiving reports and verify they were properly recorded in Accounts Payable. Review leasc agreements for capital leases Se lect a sample of entries in the payroll journal and match the employee name, date of payment and amount of pay file Compare sales invoice quantities to shipment documentation quantities to verify the client's assertion that this procedure is done by client personnel. Watch that an independent person double checks the payroll wage rates and calculations before checks are printed Select a sample of fixed asset additions and ask to sec the assets Calcalate the percentage of sales for salary and wages expense this year and the prior year for reasonable presentation between these expenses Send a form to the bank for the balances of the payroll check accounts Ask production and sales personnel concerning possible obsolete or slow-moving inventory