Examlex
In addition to performing analytical procedures that examine the relationship of inventory account balances with related financial statement accounts, auditor's will often use nonfinancial measures in determining the reasonableness of inventory balances. List below at least two nonfinancial measures that may be useful to auditors.
Cartel
An association of independent businesses or countries that collaborate to control prices and limit competition within a particular market or industry.
Market Price
The prevailing cost at which one can buy or sell an asset or service.
Marginal Cost
The augmentation in total costs associated with the production of an additional unit of a product or service.
Cartel
A group of independent market participants who collude to control prices and production in order to monopolize a market.
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