Your audit manager has asked you to explain the PCAOB Assertionsby using an account on the balance sheet at your audit client.

For the accounts receivable account, please define each ofthe PCAOB assertions, using the accounts receivable account as a way toillustrate each assertion. You are encouraged to reference Exhibit 1.5 to helpyou answer this question.

PCAOB assertions Accounts Receivable Accounts Analysis Exsistence or Occurance Do accounts receivable really exist? Or occur? Rights and Obligations Do Management have property rights to the accounts recevables? Represent the company's obligations? All accounts receivable transactions and events have been recorded? All disclosures included in the footnotes have been presented Are all Accounts receivable transactions recorded in the proper period. Completeness Valuation or Allocation Are the A/r accounts valued correctly