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Audit program Discuss the purpose of the audit program and its importance to the auditor.
Pro Forma Assets
Projected assets of a business, listed in a financial statement prepared in anticipation of future events or transactions.
Owner's Equity
The residual interest in the assets of an enterprise after deducting its liabilities, often referred to as net assets.
Long-Term Assets
Assets that are expected to provide economic value to a business for more than one year, such as property, plant, and equipment.
Economic Climate
The overall state of the economic environment, characterized by factors such as growth rates, unemployment, inflation, and consumer confidence.
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