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When there is a material inconsistency between the financial report and other information in the annual report, and the client refuses to change the information, the auditor should:
Cumulative Quantity Discount
A discount policy where the price reduction is based on the total volume of purchases made over time, encouraging repeated business by rewarding larger orders.
Stated Period
A specific, predefined duration of time mentioned in a document or agreement.
Certain Amount
A specific quantity or measure of something, often used in financial contexts or to specify quantities.
3/15 Net 60
A term of payment indicating that a buyer can deduct a certain percentage if payment is made within 15 days, otherwise the full amount is due in 60 days.
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