11. Which one of the following assertions is not made by management in placing an item in the financial statements? a. existence or occurrence b. direct controls c. rights and obligations d. presentation and disclosure e. completeness 12. If reported sales for 20X0 erroneously include sales that occurred in 20X1, the assertion violated on the 20X0 statements would be: a. existence or occurrence b. completeness c. valuation or allocation. d. presentation and disclosure e. rights and obligations 13. The completeness assertion would be violated if: a. fictitious sales transactions were included in accounts receivable. b. the allowance for doubtful accounts was understated. c. unbilled shipments had occurred during the period. d. disclosure in the statements of pledged receivables was inadequate. e. the balance of accounts payable was overstated. 14. The rights and obligations assertion applies to: a. current liability items only. b. revenue and expense items only. c. both income statement and balance sheet items. d. assets that are not owned by the company. e. balance sheet items only. 15. Determining whether amounts are in conformity with GAAP addresses the proper measurement of assets, liabilities, revenues, and expenses which includes all of the following except: a. the reasonableness of management