Explain the differences between management assertions about classes of transactions and events and management assertions about account balances.
ASSIGNMENT 6-31 (OBJECTIVE 6-8) The following are various management assertions (a. through m.) related to sales and accounts receivable. Management Assertion a. Recorded accounts receivable exist.b. Disclosures related to sales are relevant and understandable.c. Recorded sales transactions have occurred.d. There are no liens or other restrictions on accounts receivable.e. All sales transactions have been recorded.f. […]