XYZ Company Has Investment Securities Held by a Broker $\underline{\quad\quad}$ 1 Verified the Name on the Account Was the Company's

XYZ Company has investment securities held by a broker. An auditor is reviewing the last broker's statement for the year. For each of the tests 1-5, select the ASB balance assertion listed in A-D that the auditor is testing.A. Rights and obligations
B. Completeness
C. Valuation or Accuracy
D. Existence
$\underline{\quad\quad}$ 1. Verified the name on the account was the company's name.
$\underline{\quad\quad}$ 2. Vouched items listed on the statement to the investment account.
$\underline{\quad\quad}$ 3. Vouched purchases listed on the statement by authorization by senior management or the board of directors.
$\underline{\quad\quad}$ 4. The auditor has received a letter of confirmation directly from the broker for investments listed on the statement.
$\underline{\quad\quad}$ 5. The auditor compared the price of the securities listed on the broker's statement with the price listed on that day in The Wall Street Journal to the price used to record the investment on the balance sheet.