For each of the following, identify the related management assertion. (Management assertions Occurrence, Completeness, Accuracy & Valuation, Cut-off, Classification, Existence, Rights & Obligations) Assertion Audit procedure Verify inventory is recorded at the lower of cost and net realizable value. Examine details of sales five days before and five days after year- end to determine whether sales have been recorded in the proper period. Discuss with management any payroll liabilities that appeared in the prior year's financial statements that have not been accrued for in the current year. Inspection of title documents for capital assets. Ensure the balance sheet shows the correct split between current and long-term mortgage payable