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You have been assigned to the audit of Utopia Industries,Inc., for the year ended December 31, 20X1. The company makes components forcommunications and defense applications.

You have been assigned to the audit of Utopia Industries,Inc., for the year ended December 31, 20X1. The company makes components forcommunications and defense applications. To obtain an understanding of themethods of revenue recognition used by such businesses and the risks involved,you decide to review the SEC filings of other companies in the same industry.

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