QUESTION ONE [20] The detailed statement of comprehensive income of Shox (Pty) Ltd for year end 31 March 2020 contains the following account headings: Salaries R10 186 241 Your fellow trainee (who thinks he knows everything!) tells you that the assertions pertaining to this account heading are as follows: Valuation: salaries are presented at the gross amount less deductions Existence: the salary earners to whom the R10 186 241 was paid all existed at financial position date. Completeness: all salaries paid by the company in respect of the financial year are included in the amount Obligation: the company has an obligation to pay the amounts making up the total of R10 186 241. Disclosure: the names of all salary earners have been disclosed in the financial statements. 1 Required: Discuss whether you agree with your fellow trainee. Justify your answer by explaining each assertion identified and providing the correct alternative