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Describe the following audit procedures,providing an example of how each procedure could be used to gather evidence for the long-term debt and owners' equity process.
Owners' equity-Substantive tests
a.Inquiry
b.Inspection of documents
c.Analytical Procedures
d.Confirmation
Color Blind
A condition in which an individual has difficulty distinguishing between certain colors, due to deficiencies in the color-sensing cones in the eye.
Fovea
A minuscule dip in the retina of the eye that is the location of the greatest visual sharpness.
Blind Spot
An area in the field of vision that is not detected by the eye, where the optic nerve connects to the retina, or metaphorically, an area of ignorance or lack of awareness.
Retina
A layer at the back of the eyeball containing cells that are sensitive to light and trigger nerve impulses that pass via the optic nerve to the brain, where a visual image is formed.
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