Meals Inc. presents the following items in its balance sheet: Meals Inc. is a small business with

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Meals Inc. presents the following items in its balance sheet:

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Meals Inc. is a small business with two employees in its accounting department, and for that reason its internal control structure is considered deficient. In planning the audit of Meals Inc.'s annual financial statements, which account balances could you effectively test at an interim date and which balances would you want to test as of the balance sheet date?

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