Question: Refer to the Why It Matters feature at the beginning of the chapter. Why does cash have a high risk of material misstatement, and why

Refer to the Why It Matters feature at the beginning of the chapter.

Why does cash have a high risk of material misstatement, and why was the petty cash account at Koss Corporation inherently risky?

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Cash is inherently risky because a high volume of activity flows through the account cash is liquid ... View full answer

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