Required information Audit Assertions for Accounts Receivable Read the overview below and complete the activities that follow. General audit objectives exist and help auditors design proper procedures. All audit procedures include steps to test for each objective. CONCEPT REVIEW: In testing accounts receivable, auditors will design procedures to test for each general audit objective. Different procedures are designed for each general objective, and a well designed program includes tests for each objective. 1. Management may have fraudulently overstated revenue by making journal entries. 2. Receivables that have been sold should not remain as an) on the company's books. 3. Overstatement may occur when sales for the next period are recorded in the period. 4. To test collectibility of receivables, auditors may consider credit ratings for debtors of__receivables. 5. Testing the reconciliation for accounts receivable to the general ledger ensures that the software is programmed 1. Management may have fraudulently overstated revenue by making journal entries. 2. Receivables that have been sold should not remain as a(n). on the company's books. 3. Overstatement may occur when sales for the next period are recorded in period. 4. To test collectibility of receivables, auditors may consider credit ratings for debtors of receivables. 5. Testing the reconciliation for accounts receivable to the general ledger ensures that the software is programmed adjusting correcting discounted excessive inappropriate