Auditors consider fi nancial statement assertions to identify appropriate audit procedures. For
items a through f, match each assertion with the statement that most closely approximates its
meaning. Each statement may be used only once.

Assertion
a. Completeness
b. Cutoff
c. Existence and occurrence
d. Presentation and disclosure
e. Rights and obligations
f. Valuation

Statement

1. There is such an asset.
2. The company legally owns the assets.
3. All assets have been recorded.
4. Transactions are recorded in the correct
accounting period.
5. Assets are recorded at proper amounts.
6. Assets are properly classified.

Afamily wishes to save for future college expenses. which financial tool should the family invest in?

The answer here, x=7, is not in the interval that you selected in the previous part. what is wrong with the work shown above?

Listed below are several transactions that took place during the first two years of operations for the law firm of pete, pete, and roy.year 1 year 2amounts billed to clients for services rendered $ 170,000 $ 220,000 cash collected from clients 160,000 190,000 cash disbursements salaries paid to employees for services rendered during the year 90,000 100,000 utilities 30,000 40,000 purchase of insurance policy 60,000 0 in addition, you learn that the company incurred utility costs of $35,000 in year 1, that there were no liabilities at the end of year 2, no anticipated bad debts on receivables, and that the insurance policy covers a three-year period.required: 1. & 3. calculate the net operating cash flow for years 1 and 2 and determine the amount of receivables from clients that the company would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model.2. prepare an income statement for each year according to the accrual accounting model.