Explain the effects on the account of the opening of the first retail store. Describe how the
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Question:
- Explain the effects on the account of the opening of the first retail store.
- Describe how the business change will affect audit risk components.
- Determine expected changes to inventory transactions and balances and specify which will be most affected by the business structure change.
- Describe the population(s) and recommend a sampling approach for substantive inventory testing.
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