Required: For each auditor test listed below, identify the most appropriate management assertion. (Hint: An assertion can be used more than once, however choose one answer for each scenario). Use the following key E: Existence of Occurrence C: Completeness V: Valuation or allocation R: Rights and Obligations P: Presentation and Disclosure The auditor is worried that some factory machinery is overstated in the balance sheet Accounts receivable confirmations usually provides strong evidence about the following assertion 2. 3. Auditor is concerned that some expenditures that should have been recorded in the current period are delayed to next period. 4 The saditor checks to make sure that the company does not include consignment goods in their balance sheets as inventory The naditor sends external confirmations to company vendors for accounts payable This is atest of which assertion! The waiter may discover that the recorded cost of inventory exceeds the actual market (selling price when testing which assertion? 6. 7 The auditor check the prenumbered cashed checks to make sure all purchases of inventory during the year have been recorded Click Save and Submit to save and submit. Click Save All Auswers to save all answers Save All Antw