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What is the most likely course of action that an auditor would take after determining that performing substantive tests on inventory will take less time
What is the most likely course of action that an auditor would take after determining that performing substantive tests on inventory will take less time than performing tests of controls?
- Assess control risk at the minimum level.
- Perform both tests of controls and substantive tests on inventory.
- Perform only substantive tests on inventory.
- Perform only tests of controls on inventory.
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