In planning the audit of a client's financial statements, an auditor identified the following the following issues that need audit attention. 1 The allowance for doubtful accounts is fairly presented in amount. 2 All accounts payable owed as of the balance sheet date are included in the financial statements. 3 All purchase returns recorded in the general ledger are valid. 4 There is a risk that purchase made in the last week of the month might be recorded in the following period. 5 The client may have factored accounts receivable. 6 The client has use special-purpose entities to finance a bldg. Neither the bldg nor the debt is included in the financial statements. 7 A retail client values its inventory using the retail method of accounting. 8 A construction client uses the percentage of completion method for recognizing revenues. 9 A client has a defined benefit pension plan & does not have competent employees to write footnote disclosures. 10 A cliet acquired a subsidiary company & paid a high amount of goodwill when the stock market, and resulting values, were at all-time highs. 11 A client financed the acquisition of assets using preferred stock that pays a 3 percent dividend and must be redeemed from the shareholders next yr. Required Identify the assertion for items 1 through 11 above