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When Analytical Procedures in the Sales and Collection Cycle Uncover

question 104

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When analytical procedures in the sales and collection cycle uncover unusual fluctuations, the auditor should make additional inquiries of management.


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Implied Warranty Of Fitness

An assurance, not explicitly stated, that the goods sold will be suitable for the purpose for which the buyer intends to use them.

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An explicit guarantee made by a seller about the condition, quality, or performance of a product, forming part of the contract of sale.

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