Following is a list of specific audit objectives, accompanied by a list of possible audit procedures for inventory.
REQUIRED: For each specific objective, indicate the assertion from which it was derived, and the audit procedure that best meets that objective. (Each procedure can only be used once.) Use the appropriate letters for the procedures and the following letters for the assertions:
A.Existence or occurrence
B.Completeness
C.Valuation or allocation
D.Rights and obligations
E.Presentation and disclosure

Question

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The Answer of Following is a list of specific audit objectives, accompanied by a list of possible audit procedures for inventory.
REQUIRED: For each specific objective, indicate the assertion from which it was derived, and the audit procedure that best meets that objective. (Each procedure can only be used once.) Use the appropriate letters for the procedures and the following letters for the assertions:
A.Existence or occurrence
B.Completeness
C.Valuation or allocation
D.Rights and obligations
E.Presentation and disclosure

Following Is a List of Specific Audit Objectives, Accompanied by a List