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Hi Chegg Team, Here is my question: You are an auditor for Affordable Solutions &...

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Accounting

Hi Chegg Team, Here is my question: You are an auditor for Affordable Solutions & Co. You have been asked to audit the accounts of a new client Leisure Holidays Ltd (LH) for the year ending 30 June 2017. LH operates motels in all the major cities throughout Australia. LH wholly owns all of its business premises and seeks to cater for the cost conscious budget traveller. In order to compete with other similarly priced accommodation providers, LH offers substantial discounts for extended stays to encourage the budget traveller to spend more by staying longer. LH also has a rewards program that offers significant savings to guests who frequently stay at any of their motels located throughout Australia. You have some doubts about the revenue numbers claimed by LH in its trial balance. You suspect that some of the sales are fictitious and may also be overstated Question: What assertions are relevant to this issue? Thank you

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