As part of the analytical procedures of Mahogany Products Inc., you perform calculations of the following ratios.

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As part of the analytical procedures of Mahogany Products Inc., you perform calculations of the following ratios.

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REQUIREDFor each of the preceding ratios:a. State whether there is a need to investigate the results further and, if so, the reason for further investigation.b. State the approach you would use in the investigation.c. Explain how the operations of Mahogany Products Inc. appear to differ from those of the industry.

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Auditing The Art and Science of Assurance Engagements

ISBN: 978-0134613116

14th Canadian edition

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones

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