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An auditor inspects a client's physical assets to ascertain whether machinery is functioning, inventory appear to be in good repair and fixed assets are well
An auditor inspects a client's physical assets to ascertain whether machinery is functioning, inventory appear to be in good repair and fixed assets are well looked after. This evidence is used to determine whether assets should be written down below current book value. Based on the information above, what assertion is most at risk for machinery? a) Completeness b) Existence c) Rights and Obligations d) Valuation and Allocation
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