The following are a number of ASB management assertions.A. OccurrenceB. CompletenessC. Rig...

The following are a number of ASB management assertions.

A. Occurrence

B. Completeness

C. Rights and obligations

D. Allocation or valuation

E. Classification

F. Existence

G. Cutoff

H. Accuracy

I. Understandability

For each of the following control activities, place the letter of the preceding management assertion that best applies to each of the following controls in the blank space.

_____ 1. Matching shipping documents with sales invoices before a sale is recorded.

_____ 2. Balancing the total of individual customers’ receivables with the control account.

_____ 3. Obtaining sales manager’s approval of taking discounts.

_____ 4. Doing a computer check for billing the quantity shipped, list price, and total.

_____ 5. Accounting for numerical sequence of prenumbered shipping documents.