The test of controls for purchases, cash disbursements, and accounts payable include the following audit procedures. Next to each of the procedures, indicate the related transaction assertion. INSTRUCTIONS: Put one assertion next to each test of control below. (Choices can be used more than once.):

- A. B. C. D. E.	Select a sample of inventory receiving reports and trace to inventory record posting of inventory additions.
- A. B. C. D. E.	Vouch a sample of receiving reports of inventory to related purchase orders for the inventory.
- A. B. C. D. E.	Test a sample of cash disbursement voucher documents for accurate purchase price of inventory.
- A. B. C. D. E.	Completed a GAAP checklist and read the financial statements.
- A. B. C. D. E.	Reviewing accounts receivable to examine whether the client legally owns the receivables.

A.	Valuation/Accuracy
B.	Completeness/Cutoff
C.	Presentation/Disclosure
D.	Rights/Obligations
E.	Existence/Occurrence