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A424 Chapter 16 Sales and Collection: Completing the Tests I. Introduction. Preparation Question: What is the goal of the audit of the financial

A424 Chapter 16 Sales and Collection: Completing the Tests I. Introduction. Preparation Question: What is the goal of the audit of the financial statements? Preparation Question: Is it a greater risk to over- or under-audit? However, must consider cost to client and firms ability to be price competitive. Preparation question: What is the detail for the ending accounts receivable balance? What is the detail for the allowance for doubtful accounts?

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