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A Scenario Your audit firm has as its client a small manufacturing company. This company owns the land and buildings in its statement of financial
A Scenario Your audit firm has as its client a small manufacturing company. This company owns the land and buildings in its statement of financial position, which it depreciates over 50 years (buildings only) and has always been valued at cost. The other major item in the statement of financial position is inventory. What conclusions can you draw from the above scenario
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