AUDITING+ASSURANCE SERVICES (LL)
AUDITING+ASSURANCE SERVICES (LL)
11th Edition
ISBN: 9781266448119
Author: MESSIER
Publisher: MCG
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Chapter 14, Problem 14.9RQ
To determine

Concept Introduction:

Inventory audit: An organization may be trading or manufacturing or a service provider. Every type of organization holds some kind of inventories and inventory has the same important as of the blood in the body. Auditor’s take special care while doing inventory audit because there are high chances of misstatements in inventory transactions.

To indicate: Key segregation of duties in the inventory management process and errors or fraud in absence of this segregation.

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3 years ago, you invested $9,200. In 3 years, you expect to have $14,167. If you expect to earn the same annual return after 3 years from today as the annual return implied from the past and expected values given in the problem, then in how many years from today do you expect to have $28,798?
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