An audit document that reflects the major components of an amount reported in the financial statements is referred to as a(n) a Lead schedule, 5. Supporting schedule.

c. Audit control account.

d. Working trial balance.

-22 Management makes assertions about components of the financial statements. Match the management assertions shown in the left-hand column with the proper description of the assertion shown in the right-hand column.
Management Assertion Description

a. Existence . The accounts and transactions that should

b. Rights and obligation ee be included are included; thus, the financial

c. Completeness ————> statements are complete.

d. Valuation or allocation Assets, liabilities, equity revenues, and

e. Assertions about presentation an expenses are appropriately valued and are allocated to the proper accounting period.
antes Amounts shown in the financial statements are properly presented and disclosed.
4. The assets are the rights of the entity, and the bilities are its obligations.
5. The assets and liabilities exist, and the recorded transactions have occurred.. p-968