QUESTION THREE

$[20]$

You have recently started work as a trainee accountant. While performing procedures on certain cycles at your client, Blue Bottles $($Pty$)$ Ltd$,$ you came across the following:

$60\%$ of sales comprise of cash.

Blue Bottles $($Pty$)$ Ltd sells blue milkshakes which have an expiration date.

Errors were found in the depreciation calculation of recently purchased bottling machinery.

Bank reconciliations are prepared on a monthly basis.

Employees are given an increase on an annual basis.

Required:

Identify and briefly explain the assertions which would be affected by each of the above.