Industry conditions can be a source of business risks for an entity. Describe how each of the
Question:
Industry conditions can be a source of business risks for an entity. Describe how each of the following industry conditions can result in business risks.
a. The entity’s market characteristics (e. g., demand, capacity, etc.) and competition.
b. The cyclical or seasonal activity in the entity’s industry.
c. The speed of technology change related to the entity’s products.
d. The supply availability and cost of the entity’s raw materials and components.
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a The entitys market conditions and competition can be significant sources of business risks For exa...View the full answer
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Related Book For 
Auditing and Assurance Services A Systematic Approach
ISBN: 978-1259162343
9th edition
Authors: William Messier, Steven Glover, Douglas Prawitt
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