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1. Why are arms-length transactions considered less susceptible to causing material misstatements? 2. Identify at least three examples of related party transactions. 3. How should

1. Why are arms-length transactions" considered less susceptible to causing material misstatements?

2. Identify at least three examples of related party transactions.

3. How should an auditor search for related party transactions?

PLEASE ANSWER THESE QUESTIONS TO THE BEST OF YOUR KNOWLEDGE. THANK YOU.

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