SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.

1) The internal control questionnaire for purchases and accounts payable includes the following questions. Next to each of the questions, indicate the letter of the related transaction assertion.

A. Occurrence

B. Completeness

C. Accuracy

D. Classification

E. Cutoff

2) The tests of controls for inventory records would include the following procedures.

A. Existence.

B. Rights.

C. Completeness.

D. Valuation.

E. Presentation and disclosure.

For each of the procedures, place the letter of the correct PCAOB assertion(s). Only one letter per procedure should be used.