Exhibit EP 9-6 contains an arrangement of examples of transaction errors (lettered ag) and a set of auditee control procedures and devices (numbered 115). You should photocopy Exhibit EP 96 to use for completing the requirements of this question Required: a. Opposite the examples oftransaction errors lettered afin Exhibit EP 9-6, write the name otthe control objective that organizations wish to achieve to prevent, detect, or correct the error. b. Opposite each numbered control procedure, place an X in the column that identifies the error(s) the procedure is likely to control by prevention, detection, or correction. a Sales recorded, goods not shipped b Goods shipped, sales not recorded Goods shipped to a bad credit risk customer Accuracy Sales billed at the wrong price or wrong quantity Authorization Product line A sales recorded as Product line B January sales recorded in December Classification Completeness 1. Sales order approved for credit 2. Prenumbered shipping document prepared, sequence checked 3. Shipping document quantity compared to sales invoice 4. Prenumbered sales invoices, sequence checked 5. Sales invoice checked to sales order 6. Invoiced prices compared to approved price list 7. General ledger code checked for sales product lines 8 Sales dollar batch totals compared to sales journal 9 Periodic sales total compared to same period accounts receivable postings 10. Accountants given instructions to date sales on the date of shipment 11. Sales entry date compared to shipping document date 12 Accounts receivable subsidiary totalled and reconciled to accounts receivable control account 13. Intercompany accounts reconciled with subsidiary company records 14. Credit files updated for customer payment history 15. Overdue customer accounts investigated for collection Note: Other categorizations besides those above may also be valid.c. For each error/control objective, identify the financial statement assertion most benefited by the control. Assertions Sales recorded, goods not shipped Goods shipped, sales not recorded Goods shipped to a bad credit risk customer Sales billed at the wrong price or wrong quantity Product line A sales recorded as Product line B : January sales recorded in December Accuracy Authorization Classification Completenessc. For each error/control objective, identify the financial statement assertion most benefited by the control. Assertions Sales recorded, goods not shipped Goods shipped, sales not recorded Goods shipped to a bad credit risk customer Sales billed at the wrong price or wrong quantity Product line A sales recorded as Product line B January sales recorded in December . . . Completeness Ownership (Rights/obligations) Existence/occurrence Existence/occurrence Ownership (Rights/obligations) Presentation/disclosure