The following(1 through18) are thebalance-related, transaction-related, and presentation and disclosure related audit objectives.

Balance-Related Audit Objectives

Transaction-Related Audit Objectives

Presentation and Disclosure Audit Objectives

1.Existence 9.Occurrence 15.Occurrence and rights

2.Completeness 10.Completeness 16.Completeness

3.Accuracy 11.Accuracy 17.Accuracy and valuation

4.Classification 12.Classification 18.Classification and understandability

5.Cutoff 13.Timing

6.Detailtie-in 14.Posting and summarization

7.Realizable value

8.Rights and obligations

Identify the specific audit objective(1 through18) that each of the following specific audit procedures(a. throughl.) satifies in the audit ofsales, accounts receivable and cash receipts for fiscal year ended December31, 2016.

a. Examine a sample of duplicate sales invoices to determine whether each one has a shipping document attached.

b. Add all customer balances in the accounts receivable trial balance and agree the amount to the general ledger.

c. For a sample of sales transactions selected from the salesjournal, verify that the amount of the transaction has been recorded in the correct customer account in the accounts receivable subledger.

d. Inquire of the client whether any accounts receivable balances have been pledged as collateral onlong-term debt and determine whether all required information is included in the footnote description forlong-term debt.

e. For a sample of shipping documents selected from shippingrecords, trace each shipping document to a transaction recorded in the sales journal.

f. Discuss with credit department personnel the likelihood of collection of all accounts as of December31, 2016, with a balance greater than$100,000 and greater than 90 days old as of year end.

g. Examine sales invoices for the last five sales transactions recorded in the sales journal in 2016 and examine shipping documents to determine they are recorded in the correct period.

h. For a sample of customer accounts receivable balances at December31, 2016, examine subsequent cash receipts in January 2017 to determine whether the customer paid the balance due.

i. Determine whether all risks related to accounts receivable are adequately disclosed.

j. Foot the sales journal for the month of July and trace postings to the general ledger.

k. Send letters to a sample of accounts receivable customers to verify whether they have an outstanding balance at December31, 2016.

l. Determine whetherlong-term receivables and related party receivables are reported separately in the financial statements.