6-2 (Objectives 62, 63) Distinguish between managements and the auditor's responsibility for the financial statements being audited. 6-4 (Objective 63) Distinguish between fraudulent financial reporting and misappropriation of assets. Discuss the likely difference between these two types of fraud on the fair presentation of financial statements. 6-9 (Objective 64) Identify the cycle to which each of the following general ledger accounts will ordinarily be assigned: sales, accounts payable, retained earnings, accounts receivable, inventory, and repairs and maintenance. 6-15 (Objectives 67, 68, 69) What are specific audit objectives? Explain their relation ship to the general audit objectives