Choose the letter of your answer. The following question pertain to the financial statement assertions enumeratedbelow:T- Existence or OccurrenceIl - CompletenessIII - Cut-offIV - Valuation and AllocationV- AccuracyVI - Rights and ObligationsVII – Presentation and Disclosure and Classification A typical substantive procedure for receivable balance and sales transactions mayinclude investigating any transactions with or related party receivables. Which of thefollowing assertions is addressed by the audit procedure previously mentioned? *A. III and IVB. III, IV and VC. II, IV, V and VID. IV and VIIE. IV only

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A typical substantive procedure for receivable balance and sales transactions may include investigating any transactions with or related party receivables. Which of the following assertions is addressed by the audit procedure previously mentioned? * A. III and IV B. II, IV and V C. II, IV, V and VI D. IV and VII E IV onlv