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You are finalizing your approach to auditing revenue & accounts receivable and an intern on the engagement e-mailed you the following questions. Choose the answer below that best answers the question. One assertion that auditors will probably most emphasize testing in auditing revenue is_ Confirmations of accounts receivable provides the most evidence for the assertion. Evaluating the adequacy of the allowance for doubtful accounts relates to the assertion. Tests designed to detect credit sales made before the end of the year that have been recorded in the subsequent year * provide assurance about the PCAOB assertion of_ A. Occurrence/Existence Working from the accounting records (General Ledger/TB/etc.) to the supporting evidence (Invoices, Bill of Lading etc.) Rights/ Obligations * addresses what assertion for an asset account being audited: B Audit testing starting from the original source documents to the general ledger addresses the assertion of: . (Think of Tracing vs Vouching) c. Valuation/ Accuracy Reviewing the financial statements and board minutes/agreements to examine whether all related parties have been disclosed D. Presentation/ Disclosure properly in the financial statements: E. Completeness/ Cutoff - Examining the land as part of PP&E to see who the owner is per the tax bill: An auditors test of whether the allowance for bad debt expense is adequate and correctly calculated- most likely relates to testing management's assertion of: The confirmation of a cash balance provides primary evidence regarding which management * assertion