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How does the ownership assertion apply to cash and cash equivalents, prepaid expenses, and long-term assets? What exactly is meant by this assertion in regard
How does the ownership assertion apply to cash and cash equivalents, prepaid expenses, and long-term assets? What exactly is meant by this assertion in regard to these types of accounts?
What internal control components are common among long-term assets, liabilities, and equity accounts? What components are unique to each? How can an auditor assess these controls?
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