The final triai baiance of Croxley (Pty) Ltd for the current Financial year end 31 March 2016 feflecis the following Trade accounts payable Ry 211313 You asked a fellow junior trainee working on the audit of Croxley (Pty) (td, what the assertions pertainine to trade accounts payable are. He answet ed as folkows: Occurrence: Croxley (Pty) Ltd is oblistd tu pay suppliers for the goods purchased. Compieteness; all orders for goods placed by year end had been fllled by suppliers. 21Pan0 Measurement: I don't know what this means but I know it is an assertion. Moteriality: the trade accounts payable at 31 March 2016 balance is materlal. Exishence: Croxley (P(y) L.td has hot understaterl its triale accounts payalile. Fair presentution: the trade accounts nayalile halarce is fairly presented. YOU AAE REOUIRED TO comment on vOur fellnw trainee's untlerstandine nf the financial statement assertlons. Your answer must convey that you understand the asserticns apolicable to irade accounts payable. Question 3 (20marks Hay Sixteen [Pty] Ltd is a wholesale distributor of agricultural products. its accounting Systems are computerised and are resident on a local area network. The following information pertains to the company's computerised salary system: 1. All employees at Hay Sixteen (Pty) Ltd are salary eamers. There are no hour'y paid