Audit procedures and Management assertions

For each of the audit procedures listed below, choose the assertion that is most likely tested by the procedure:

Assertion choices:

Completeness

Rights and obligations

Valuation or allocation

Existence or occurrence

Statement presentation and disclosure

Audit Procedures

_____ 1. The auditor reviewed delinquent customers credit ratings.

_____ 2. The auditor confirmed accounts receivable.

_____ 3. The auditor performed a sales cutoff test to assure that all sales transactions for

the year were included in the balance.

_____ 4. The auditor accounted for the numerical sequence of sales orders.

_____ 5. The auditor vouched the recorded accounts receivables to shipping documents.

_____ 6. The auditor determined that accounts receivable was presented on the balance

sheet as a current asset.

_____ 7. The auditor aged the accounts receivable.

_____ 8. The auditor inquired of management about the possibility that the receivables had

been sold or factored.