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Control environment.
One of the elements of an organization's control system is the "control environment." Identify at least four factors that the auditor should consider when reviewing the control environment and discuss how the auditor would relate this review to the assessment of control risk.
Equivalent Units
A concept in cost accounting used to allocate costs to partially completed goods, expressed in terms of fully completed units.
Equivalent Units
A concept used in cost accounting to denote the amount of completed units that could have been produced given the total amount of direct materials and labor consumed.
Materials Requisitions
Documents or requests used within a company to authorize the retrieval or usage of materials from inventory for production purposes.
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