For ABC company you are finalizing your approach to auditing. Reply by selecting the correct assertion to match the audit procedure being performed. (Answers can be used more than once.):

- A. B. C. D. E.	When auditing the Long-Term Debt account for any violations of covenants and the related information of such violations in the financial statements, the auditor is testing the assertion of:
- A. B. C. D. E.	In Auditing whether a university that split into two separate universities that are independent and split the property they owned equally, and which school owns which property the auditor is primarily testing the assertion of:
- A. B. C. D. E.	When the auditor is receiving a confirmation from the transfer agent which shows how many shares, par value, and paid in capital the company has sold during the period to test the schedule of changes in shareholders equity. The auditor wants to see if the transfer agent can verify these transactions really happened in the period. The auditor is primarily testing the assertion of:
- A. B. C. D. E.	The auditor wants to verify how much money the company owes to bond holders and sends/receives a confirmation from the bond trustee to verify the amount owed to bond holders as of yearend. This amount is tied to the liabilities section of the financial statements. The auditor is primarily testing the assertion of:
- A. B. C. D. E.	Auditor wants to make sure all Account Payables are recorded once the inventory is received and the legal right of ownership are transferred to the company buying the inventory.
- A. B. C. D. E.	Auditor testing whether inventory can be sold close to full price without taking a loss.

A.	Presentation/Disclosure
B.	Completeness/Cutoff
C.	Valuation/ Accuracy
D.	Rights and Obligations
E.	Existence/Occurrence