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Discuss two ways in which the auditor can control sampling risk.
Equivalent Units
A measure used in cost accounting to express the amount of work done on incomplete units in terms of fully completed units.
Direct Materials
The raw materials that are directly used in the manufacturing of a product, which can be easily traced to the finished product.
Conversion
The process of changing or converting resources or inputs into final products or outcomes.
Indirect Materials
Any materials needed to make a product that are not directly traced to the product.
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