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For each of the controls below, identify the transaction-related assertion to which it applies. Presentation, classification, occurrence, accuracy, or completeness. 1. Sales are made only
For each of the controls below, identify the transaction-related assertion to which it applies. Presentation, classification, occurrence, accuracy, or completeness. 1. Sales are made only to approved customers. The computer system rejects orders if the customer number is invalid. 2. The computer system generates a list of shipping documents that were not matched with a recorded sale. The sales clerk follows up on each exception and electronically signs the report when they're all resolved. 3. The accounts receivable clerk prepares a monthly reconciliation of accounts receivable in the general ledger with the account receivable master file. He signs and dates the reconciliation and forwards it to the controller for review and approval. 4. Payroll accounting personnel must input the employee's identification numbers. The system does not allow input of hours worked for invalid employee numbers. 5. Periodically, the payroll accounting personnel obtain a listing of pay rates and withholding information for a sample of employees from human resources to recalculate gross and net pay
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