1. For each of the following audit procedures, identify the audit objective, a e, that the procedure will be most likely to achieve. The audit objective may be used once, more than once, or not at all. While a procedure may meet more than one audit objective, you need only identify one audit objective per procedure.

1. Existence or Occurrence.
2. Rights or Obligation.
3. Valuation.
4. Cutoff
5. Completeness.
6. Presentation.

1. Trace a sample of shipping documents to recorded sales transactions.
2. Send standard bank confirmation forms to financial institutions.
3. Obtain bank cutoff statement.
4. Ascertain the existence of pledged receivables.
5. Evaluate accounting estimates related to revenue recognition.
6. Review significant year-end sales contracts for unusual terms.
7. Determine adequacy of allowance for uncollectible accounts
8. Investigate payments to related parties.

1._________________ 5._______________

2._________________ 6._______________

3._________________ 7._______________

4._________________ 8._______________