p$.$ An auditor most likely would inspect loan agreements under which an entity's inventories are pledged to support management's financial statement assertion of:

$(1)$ Presentation and disclosure.

$(2)$ Valuation or allocation.

$(3)$ Existence or occurrence.

$(4)$ Completeness.

$15-8$

q$.$ An auditor usually obtains evidence of stockholders' equity transactions by reviewing the entity's:

$(1)$ Minutes of board of directors meetings.

$(2)$ Transfer agent's records.

$(3)$ Canceled stock certificates.

$(4)$ Treasury stock certificate book.