Problem

This question relates to off-balance-sheet commitments. Match the type of commitment with...

This question relates to off-balance-sheet commitments. Match the type of commitment with the typical procedures and sources of evidence.

1. Vouching of sales contracts; inquiry of sales personnel; confirmation by customer Loan commitments (as by a financial institution) ____

2. Vouching of open commitment file; inquiry of loan officers Repurchase or remarketing agreements ____

3. Vouching of contracts; confirmation by customer; inquiry of client management Lease commitments ____

4. Vouching of open purchase orders; inquiry of purchasing personnel; confirmation by supplier Commitments to purchase at fixed prices ____

5. Vouching of lease agreement; confirmation with lessor or lessee Commitments to sell at fixed prices ____

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