1. For each statement below, identify which management assertion, as categorized by both the PCAOB and the AICPA, is primarily being tested (use your response to #3 above as a guide).

	Statement	PCAOB Assertions	AICPA Assertions
	Recorded transactions and events actually took place
	Amounts and other data were recorded appropriately
	All assets, liabilities, and equity interests that should have been recorded were recorded
	Financial information is appropriately presented and described, and disclosures are clearly expressed
	Transactions and events were recorded in the proper period
	Assets, liabilities, and equity interest are included at appropriate amounts, and adjustments are appropriately recorded
	The entity owns the assets, and liabilities are its obligations
	Assets, liabilities, and equity interests are bona fide.