TRUE OR FALSE

9.The balance-related audit objective realizable value is not applicable when auditing accounts payable.

10.A substantive test of transactions commonly used to test the completeness objective for acquisitions is "Trace from a file of receiving reports to the acquisitions journal."

11.Auditors are normally more concerned about violations of the completeness objective for acquisitions than about violations of the existence objective for acquisitions.

12.To test for overstatement cutoff amounts when auditing accounts payable, the auditor should trace receiving reports issued before year-end to related vendors' invoices to make sure they are not recorded as accounts payable.