Read each scenario related to the substantive testing of transactions, account balances and disclosures. Determine which management assertion was being tested by the auditors. 01) During audit testing, the auditors found that interest and dividend revenue was incorrectly recorded to sales revenue for several transactions. They also noted that certain expense transactions were recorded to the equipment account. 02) During audit testing, the auditors found that the mortgage payable account reflected a liability specific to the CEO's vacation home in Florida which was not property associated with the organization. 03) During audit testing, the auditors found that the bonds payable account could not be substantiated/verified by any audit evidence obtained including confirmations sent to bondholders. 04) During audit testing, the auditors found invoices from a specific vendor that were improperly priced. 05) During audit testing, the auditors found that some cash disbursement transactions were recorded in the accounting system but the payments were not actually made. Management Assertion Tested Options : 01) - Accuracy - Existence - Authorization 02) - Occurrence 03) Classification - Rights & Obligations 04) Completeness - Valuation & Allocation 05) Cutoff - Accuracy & Valuation Classification & Understandability Identify each scenario below as resulting in the accounting records being: - Overstated - Understated - Either overstated or understated) - Neither loverstated nor understated) NOTE: Enter only the underlined word in the Answer box. > Type Transactions Audited Assertion Possible Misstatement 106) Purchase Classification Purchase transactions not properly classified 07) Cash Receipts Occurrence Cash receipts recorded but not received or deposited 08) Cash Disbursements Cutoff Cash disbursements recorded in the wrong period 109) Capital Purchase Accuracy Purchase of a capital item was recorded in the at the cost of the item and cost of the installation 10) Revenue Completeness Goods shipped or services provided but revenue was not recorded (11) Purchase Authorization Purchase of goods and services at unauthorized prices or on unauthorized credit terms 12) Auditors audit the management assertions associated with an organizations financial statements. Which type management assertion is applicable to all three categories of management assertions ("Transactions", "Account Balances", "Presentations & Disclosures")