The auditor determines that the following objectives will be part of the audit of ABC Company - which has a December 31 year end. For each of the following audit objectives, select the substantive test that would most likely provide the proper support for the determining that the Objective has been met. Choose only one answer from A thru ) for each Objective. OBJECTIVES: 1. Verify existence of accounts receivable 2. Determine that accounts receivable are valued at their net realizable value 3. Determine that proper receivable disclosures are presented 4. Determine that sales have been recorded in the proper period 5. Substantiate balances for any accounts receivable where confirmations were not received back from the customer Selection List of Substantive Tests: A. Review and assess an aging schedule of accounts receivable along with information for subsequent collections. B. Compare recognized revenue to related industry statistics, C. Tour the storage facility for inventory to determine adequacy of security controls. D. Send confirmations to customers E. Read the financial statements (including notes) F. Collect shipping information (bills of lading, etc.) from the departments or locations from which products are shipped to the customers for the last five shipments in December and the first five shipments in January and determine that the shipments were appropriately recorded in the correct month's sales register/ledger G. Examine subsequent cash collections and/or examine evidence of sale/shipment - such as the three-way match of related documents H. Inquire about and observe the procedures being performed by the sales invoicing personnel 1. Discuss the process used by the Credit Manager and the validity of his/her supporting information used to set the credit limits for each new and existing customer J. Review and test entity level controls and perform analytical/ratio analysis of the current year to the previous year