1. Cash transactions including all transactions that have taken place in the period satisfies the existence or occurrence assertion relevant to cash.

True

False

2.Bank reconciliations are key control procedures relating to cash.

True

False

3. The board of directors of an organization approving all new debt will be the expectation of the auditor when it comes to internal controls over equity.

True

False

4.The auditor is required to date the audit report using the last date of fieldwork.

True

False

5. Inherent risks associated with long-lived assets includes management estimates.

True

False