Question: Evaluate the following statement made by a third-year auditor:In comparison with other accounts, such as accounts receivable or property, plant, and equipment, it is my

Evaluate the following statement made by a third-year auditor:"In comparison with other accounts, such as or property, plant, and equipment, it is my assessment that cash and marketable securities contain less inherent risk. There are no significant valuation problems with cash. Marketable securities can be verified by consulting the closing price in The Wall Street Journal." Do you agree or disagree with the auditor's assessment of inherent risk? Explain.

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