using ASB assertions

G . 2 3 4 5 Partial Statement For Educational purposes only Caterpillar Inc Consolidated Results of Operations for the Years Ended December 31 (Dollars in millions except per share data) 2016 What is the audit assertion related to each financial statement item to the left? Sales and revenues 1 2 Sales of Machinery, Energy & Transportation Revenues of Financial Products $ 35,773 $ 2,764 Operating costs 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 1 2 3 4 5 6 Cost of goods sold Selline, general and administrative expenses research and development expenses Interest expense of Financial Products Goodwill impairment charge Other operating (income) expenses $ 28,309 $ 4,686 $ 1,951 $ 596 $ 595 $ 1,902 14 Balance Sheet Assertions Income Statement Assertions What is the audit assertion related to each financial statement item to the left? 2016 Assets Current Assets Cash and short-term investments receivables - trade and other Receivables-finance Prepaid expense and other current assets Inventories $ 7,168 $ 5,981 $ 8,522 $ 1,682 $ 8,614 Property, plant, and equipment-net Long-term receivables - trade and other Long-term receivables - finance Noncurrent deferred and refundable income taxes Intangible assets Goodwill Other assets $ 15,322 $ 1,029 $ 13,556 $ 2,790 $ 2,349 $ 6,020 $ 1,671 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 an Uable Current liabilities Short-term borrowings Accounts payable Accrued expenses Accrued wages, salaries and employee benefits Customer advances Dividends payable Other current liabilities Long term debt due within one year $ 7,303 $ 4,614 $ 3,003 $ 1,296 $ 1167 $ 452 $ 1,635 $ 6,662 Long-term debt due after one year Liability for postemployments benefits Other liabilities $ 22,818 $ 9,357 $ 3,184