X Your answer is incorrect. Ginais currently working on the audit of a major attestation client. Gina has been tasked by her supervisor to audit the client's purchases process, and is preparing this week to audit purchase adjustments. During lunch on Monday, Gina asks her supervisor Steve what documentation she should collect that would support any purchase adjustments made by the client. Which of the following represents Steve's most appropriate response to this question? O You should consider collecting credit memos. These memos are used extensively by the client to document and record return shipments of goods sold on credit. O You should consider collecting debit memos. The client uses these debit memos to document purchases returns by clients, and subsequent adjustment to the liability accounts. O You should consider examining a sample of debit memos. The client uses these debit memos to document returns made by customers and the subsequent lowering of its asset accounts. Youshould consider collecting credit memos. These memos are what the client uses to document and record purchase adjustments to payables accounts. McKay CPA Firm is currently working on the audit of McKeown Enterprises, Inc., a large building firm that provides construction services across the southern United States. One of the partners assigned to the audit has noted that the client uses the percentage-of- completion method for their building services and would like to audit revenues associated with this method. Which of the following techniques would be the most appropriate way for the auditors to test this? O The auditors should consider confirming the clients recorded revenue percentages with the pertinent clients. This would enable the auditors to accurately test the occurrence assertion of revenue. O The auditors should consider utilizing an audit data analytics (ADA) technique to investigate gross margins for construction projects in progress compared with completed construction jobs. O The auditors should think about the appropriateness of the percentage-of-completion method, and possibly recommend to the audit client that a different revenue recognition method be used. O None of these answers is correct