Question: In assessing inherent risk for the purchasing process assertions, the auditor should consider pervasive factors that ________. 1. lead to risk factors associated with purchases

In assessing inherent risk for the purchasing process assertions, the auditor should consider pervasive factors that ________.

1. lead to risk factors associated with purchases

2. influence the understatement of expenses only

3. influence the overstatement of payables only

4. influence the understatement or overstatement of payables and expenses

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