(12) The following table shows the different combinations of criteria of determining the relevance of audit evidence obtained from an audit procedure including (1) assertions under consideration, (2) purpose of the procedure, and (3) timing of collecting the audit evidence: Assertions under Purpose of the Timing of collecting the Combination consideration (i) Valuation procedure Substantive test audit evidence Throughout the whole year Existence and (ii) Test of controls Year-end valuation (iii) Occurrence (iv) Existence Test of controls Substantive test Year-end Throughout the whole year Which of the above combinations best fit the audit procedure, observation? (a) (i) and (ii) only. (b) (i) and (iii) only. (c) (ii) and (iii) only. (d) (iii) and (iv) only.