II. Indicate the most applicable of each of the following assertions. Use onl y ONE letter for each item Assertions about Classes of Transactions and Events: A. Occurrence B. Completeness C. Accuracy D. Classification E. Cutoff Assertions about Account Balances F. Existence G. Completeness H. Valuation and Allocation I. Rights and Obligations Assertions about Presentation and Disclosure J. Occurrence and Rights and Obligations K. Completeness L. Accuracy and Valuation M. Classification and Understandability Items 1. Items on the inventory listing can be located in the company's warehouse 2. Footnotes to the financial statements are written in the ancient Sand script language 3. The company actually owns inventory found in its warehouse 4. Purchases in transit at year-end shipped FOB destination are properly excluded in the company' s accounts Answers (USE ONLY ONE LETTER)