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A)What Is Test Data Processing? B)How Is It Done? C)What

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Essay

a)What is test data processing? b)How is it done? c)What are the sources that an auditor can use to generate test data?


Definitions:

Fair Market Value

The price at which an asset would change hands between a willing buyer and a willing seller, both having reasonable knowledge of all the relevant facts.

Provincial Bonds

Provincial bonds are debt securities issued by a provincial government in Canada to finance its expenditures and obligations.

Ordinary Annuity

A series of equal payments made at equal intervals of time, such as monthly or annually.

Residential Building Lot

A plot of land designated for the construction of a residential home.

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