Question: The auditor for Knowles, Inc. is attempting to determine whether the recorded sales and accounts receivable are supported by valid transactions. Identify the assertions being

The auditor for Knowles, Inc. is attempting to determine whether the recorded sales and are supported by valid transactions. Identify the assertions being tested and develop the substantive procedures to be used to satisfy the auditor's objectives. The auditor is testing the existence and occurrence assertion as the concern is from recorded amounts in the direction of source documents and transactions.

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