Answer:
The following are the solution to this question:
Explanation:
1) In the assertion groups or the title of the claim taken by the organization for each assertion
a. Sales and accounts receivable divulgations relate to the company.
Category of assertion: Introduction and publishing
List of the statement: Occurrence
b. There's been registered sales transactions.
Name of Assertion Class: Transactions and Events
Name of the statement: Occurrence
c. No accounts receivable bonds or other limitations exist.
Class assertion: the value of accounts s
Name of claim: rights and duties
d. All payments were registered.
Assertion class: Payment class and events
Title of the statement: Occurrence
e. Throughout the financial statements, accounts receivable are listed accordingly or specifically defined with relation to trade as well as other claims.
Activism class: submission and divulgation
Name of claim: plans for the future
f. Throughout the correct time, sales transactions are reported.
Assertion Class: Transactions and Occurrences
Name of the claim: Cutoff
g. The receivable accounts were reported throughout the right number.
Class assertion: Balances of account
Name of the statement: evaluation
h. In corresponding accounts, cash sales were registered.
Class of assertion: transaction and events
Name of claim: category.
i. All required sales and accounts receivable disclosures are made.
Class of assertion: presentation and exposing the name of claim name: completeness.
j. Both receivable records were registered.
Class assertion: Balance of account
Name of the statement: Life.
k. Assertions relating to damages shall be in the correct amounts.
Class of assertion: presentation and exposing
Name of claim: Precision.
l. Exchanges in the right amounts were registered.
Class of assertion: activity and occurrences
Name of claim: Accuracy
2) Differences between the leadership assertions groups
Presidency of transaction classes or events:
This would be to claim that its transfers were accurately recorded and during the proper fiscal quarter in terms of income and incident.
Checking account management assertions:
It is because the accounting report of any payments has also been properly accurately reported without any error and during the correct fiscal quarter.
Presentation and time in question management assertions:
Its point would be that the information contained in the financial statements is contained or disclosed appropriately.
