Statement 1: Common to future purchase commitments is the fact that they should be recorded as liabilities at discounted values as of year-end. Statement 2: Analytical procedures are required as a part of the. Internal control assessment. Statement 3: Auditors should perform audit procedures relating to subsequent events through issuance of the audit report.

A. only one statement is true

B. only two statements are true

C. All are true

D. All are false