Examlex
Which of the following is not a risk factor that the auditor should take into account when considering the possibility of fraudulent financial reporting at an audit client?
Pledging Receivables
Pledging receivables involves using the money owed to a company by its customers as collateral for a loan.
Effective Cost
Effective cost refers to the total cost of a financing option when all charges, fees, and interest payments are taken into account.
Annual Rate
The interest rate for a period of one year, often used to compare the yields of different investment and financing options.
ABC System
A system of controlling inventory that recognizes the differing cost and importance of various items. A parts are expensive and/or important and are controlled carefully. C parts are cheap and plentiful, so little effort is expended to monitor them. B parts are between As and Cs.
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