You have already learned that when preparing nancial statements, management makes assertions about each account and therelated disclosures in the notes. Auditors then gather sufcient appropriate evidence to evaluate management's assertions.Listed below are different types of potential misstatements that could occur. Match the relevant assertion with each item. Theassertions may be used once, more than once, or not at all.1.The accounts payable balance might include amounts owed to ctitiousvendors.2.Payroll expense that was incurred but not paid at the end of the year has notbeen accrued.3.Accounts receivable has not been adjusted for potential bad debts.4.A note disclosure is missing about the client's available line of credit from anancial institution.5.Repairs and maintenance expense is recorded as depreciation expense.6.Inventory has been received by the client, but it has not been recorded by theend of the period