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Discuss three audit procedures commonly used to search for contingent liabilities.
Repeated Game
A strategic situation where the same game is played numerous times, allowing participants to adjust their strategies based on past outcomes.
Stackable Discounts
Discounts that can be combined or "stacked" on a single purchase to provide consumers with greater savings than would be available from any single discount alone.
Selling Price
The price at which a good or service is offered to the public.
Retail Price
The cost at which a product is sold to the end consumer, including any markups by retailers.
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