The auditor determines that each of the following objectives will be part of the company's audit. For each objective, select from the option lists provided two different substantive tests that provide the best support for the audit objective. A substantive test may be used once, more than once, or not at all. A. Request positive confirmation directly from the customer of its balance owed to the company. 1. From the fixed assets sub-ledger, trace a selection of fully depreciated assets from the ledger to the manufacturing floor and check the associated identification number. B. Test that the income statement agrees to the change of assets minus liabilities and owner's J. Recalculate the year's depreciation expense. equity. K. Review the process of assigning expected C. Test the aging in the accounts receivable trial useful life to machinery with the controller and balance. ask if any assumptions have changed. D. Trace shipping documents to the related sales invoices and orders and to entries in the L. Foot the fixed asset sub-ledger. sales journal and accounts receivable subsidiary ledger. E. Analyze the historical relationship of credit loss write-offs in comparison with sales and accounts receivable. M. Vouch additions to the property, plant, and equipment subsidiary ledger. F. Foot the accounts receivable trial balance. N. Make a physical inspection of major property, plant, and equipment acquisitions. O. Foot and crossfoot the purchases journal. G. Foot and crossfoot the sales journal. H. Identify the last number used in Year 2 and the first number used in Year 3 for prenumbered shipping documents and prenumbered sales invoice. Trace the respective numbers to postings in the sales journal and accounts receivable subsidiary ledger. P. Investigate and review cash receipts related to retirements and sales of property, plant, and equipment during the year. Audit objective Substantive test 1 Substantive test 2 1. Receivables at the end of Year 2 are properly cutoff with respect to sales made in Year 2. 2. The aggregate of net receivables in the balance sheet is fairly stated at estimated net realizable value. 3. Depreciation expense is fairly stated. 10 4. Fixed assets included in the balance sheet exist