a. Recorded accounts receivable exist. b. Disclosures related to sales are relevant and understandable. c. Recorded sales transactions have occurred. d. There are no liens or other restrictions on accounts receivable. e. All sales transactions have been recorded. f. Receivables are appropriately classified as to trade and other receivables in the financial statements and are clearly described. g. Sales transactions have been recorded in the proper period. h. Accounts receivable are recorded at the correct amounts. i. Sales transactions have been recorded in the appropriate accounts. j. All required disclosures about accounts receivables have been made. k. All accounts receivable have been recorded. 1. Disclosures related to receivables are at the correct amounts. m. Sales transactions have been recorded at the correct amounts. Required a. Explain the differences between management assertions about classes of transactions and events and management assertions about account balances. b. For each assertion, indicate whether it is an assertion about classes of transactions and events or an assertion about account balances. c. Indicate the name of the assertion made by management. (Hint: See Table 6-30.) (Objectives 6-80, 6-100) The following are specific balance- 6-32 LUU LU Uly b. An auditor who qualified an opinion because of an insufficiency of audit evidence should refer to the scope limitation in the Opinion Auditor's Responsibility Section Note to the Financial Statements Section Yes (0) Yes NO 23 No Yes No NO Yes Yes 3 14 Yes Yes Yes 9 43% 12:38 PM Mon Sep 28 6-34 (Objective 6-100) The following (1 through 16) are the balance-related and transaction- related audit objectives. X Tap to view Required Identify the specific audit objective (1 through 16) that each of the following specific audit procedures (a. through 1.) satisfies in the audit of sales, accounts receivable, and cash receipts for fiscal year ended December 31, 2019. a. Examine a sample of electronic sales invoices to determine whether each order a. Recorded accounts receivable exist. b. Disclosures related to sales are relevant and understandable. c. Recorded sales transactions have occurred. d. There are no liens or other restrictions on accounts receivable. e. All sales transactions have been recorded. f. Receivables are appropriately classified as to trade and other receivables in the financial statements and are clearly described. g. Sales transactions have been recorded in the proper period. h. Accounts receivable are recorded at the correct amounts. i. Sales transactions have been recorded in the appropriate accounts. j. All required disclosures about accounts receivables have been made. k. All accounts receivable have been recorded. 1. Disclosures related to receivables are at the correct amounts. m. Sales transactions have been recorded at the correct amounts. Required a. Explain the differences between management assertions about classes of transactions and events and management assertions about account balances. b. For each assertion, indicate whether it is an assertion about classes of transactions and events or an assertion about account balances. c. Indicate the name of the assertion made by management. (Hint: See Table 6-30.) (Objectives 6-80, 6-100) The following are specific balance- 6-32 LUU LU Uly b. An auditor who qualified an opinion because of an insufficiency of audit evidence should refer to the scope limitation in the Opinion Auditor's Responsibility Section Note to the Financial Statements Section Yes (0) Yes NO 23 No Yes No NO Yes Yes 3 14 Yes Yes Yes 9 43% 12:38 PM Mon Sep 28 6-34 (Objective 6-100) The following (1 through 16) are the balance-related and transaction- related audit objectives. X Tap to view Required Identify the specific audit objective (1 through 16) that each of the following specific audit procedures (a. through 1.) satisfies in the audit of sales, accounts receivable, and cash receipts for fiscal year ended December 31, 2019. a. Examine a sample of electronic sales invoices to determine whether each order