please answer all parts of the question within 30 minutes. make sure the explanation and reasons are explained in very detailed manner , Attempt the answer only if your are 100% sure that its correct. else leave it for other tutor otherwise i will give negative ratings and will also report your answer for unprofessionalism. Make sure the answer is 100% correct and is not copied from anywhere. ATTEMPT THE QUESTION ONLY IF YOU ARE 100% CORRECT AND SURE. ELSE LEAVE IT FOR ANOTHER TUTOR. BUT PLEASE DONT PUT WRONG ANSWER ELSE I WILL REPORT.

The following are three (3) different scenarios in which you need to evaluate two procedures used for financial statements. First you must determine whether the control is important to identifying risks of material misstatement in financial statements or not, and if this is a significant risk for the business. Please explain your reasoning. Second you must determine if a combined approach fortesting control is required or only substantive work? Explain. Company A A monthly analysis for inventory is completed to ensure inventory is sufficient and that they are staying within budget. A concern is that cost overruns will occur if no action is taken when it is apparent that they are outside the budget. Company B The company has a complete online sales ordering system. The customers enter all information including a credit card and its validated and if okay the order is processed. This also includes verification of availability of the product and making all financial transactions into the accounting system. Company C Higher than a S dollar store mainly has transactions of cash sales