Question: In your own words thoroughly explain the valuation and allocation assertion. Provide one example, made up by you and therefore in your own words ,

In your own words thoroughly explain thevaluation and allocationassertion.

Provide one example,made up by youand thereforein your own words, that would put thevaluation and allocationassertion "at risk" (remember to include the affected general ledger account).

Explain how the scenario you described in part (b) puts thevaluation and allocationassertion "at risk"?

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