Identify the test of controls for each asssertion(existence,completeness, accuracy or valuation, rights and obligations,...

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Accounting

Identify the test of controls for each asssertion(existence,completeness, accuracy or valuation, rights and obligations, andpresentation and disclosure) and internal control. Write 500 wordsthat set specific tests of internal controls for the 5 internalcontrols related to management assertions.

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Assertions for Classes of Transactions Occurrence Transactions recognized in the financial statements have occurred and relate to the entity Completeness All transactions that were supposed to be recorded have been recognized in the financial statements Accuracy Transactions have been recorded accurately at their appropriate amounts Cutoff Transactions have been recognized in the correct accounting periods Classification Transactions have been classified and presented See Answer

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In: AccountingIdentify the test of controls for each asssertion(existence,completeness, accuracy or valuation, rights and obligations, and...Identify the test of controls for each asssertion(existence,completeness, accuracy or valuation, rights and obligations, andpresentation and disclosure) and internal control. Write 500 wordsthat set specific tests of internal controls for the 5 internalcontrols related to management assertions.