Which of the following is true?
◦ Tests of details of balances focus on the ending general ledger balances for both balance sheet and income statement accounts.
◦ Tests of details of balances focus on the transactions during the period for both balance sheet and income statement accounts.
◦ Tests of details of balances focus on the auditor's understanding of internal controls.
◦ Tests of details of balances focus on comparisons of recorded amounts to expectations developed by the auditor.