Question: Problem 1. Soon after beginning the year-end audit work on December 26, 2020 at Magnificent Corporation, the auditor has the following conversation with the accountant.

Problem 1. Soon after beginning the year-end audit work on December 26, 2020 at Magnificent Corporation, the auditor has the following conversation with the accountant. Accountant: The year ended De...

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are management information and computer systems adequate?

if outside r&D firms are used, are they cost-effective?

Does the firm have r&D facilities? are they adequate?