Question $2(15$ points$)$

As a part of the audit of Bluth Corporation, you have performed the following audit procedures:

Request a statement from a major customer as to its agreement or disagreement with a year$-$end receivable balance shown to be due to the audit client.

Review a lease contract to determine the items it covers and its major provisions.

Tour the plant to determine that a major equipment acquisition was received and is in working condition.

Perform test counts of the client's marketable securities held in safe deposit box.

Examine cancelled checks returned with the client's January bank statement as support of outstanding checks listed on the client's January bank statement as support of outstanding checks listed on the client's December year$-$end bank reconciliation.

Required: For each of the five audit procedures listed above,

Identify the appropriate audit evidence gathering technique applied and rank each one in the order of reliability. Provide your rationale. $(1\mathrm{.}5$ mark each$)$

Identify the underlying management assertion tested $($existence$,$ valuation, completeness, ownership, or presentation$).$ Provide your rationale. $(1\mathrm{.}5$ mark each$)$