Suggested time allocation: 30 minutes Specific auditing substantive procedures for obtaining audit evidence are listed below: 1. Send debtor's confirmation letters to a number of the client's customers. 2. Recalculate depreciation charges. 3. Calculate gross profit rates for the current year and the preceding year. 4. Discuss the potential obsolescence of inventory with the management. 5. Examine registration certificates for motor vehicles purchased during the year. 6. Use the computer to scan a file to determine that all documents in a numbered series have been accounted for. 7. Learn about a possible lawsuit in conversation with the financial controller. 8. Obtain a valuation of land held by the company interstate. 9. Observe the year-end inventory count. H 10. Select a sample of repairs and maintenance expenses and check whether any should have been capitalised.REQUIRED: a) Indicate the Type of Substantive Audit Procedure (i.e. Analytical Review, Test of Details of Balances, Test of Details of Transactions, or Test of Details of Disclosures) for each of the audit procedures above. (2.5 marks) I b) Indicate the key audit assertion (indicate only 1 assertion) for each substantive audit procedures above. Justify your answer. (7.5 marks)