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Business, 01.05.2021 01:00 Areyano7236

Four weeks after the year-end date, a major-customer of Prince Construction Co. declared bankruptcy. Because the customer had confirmed the balance due to Prince at the balance sheet date, management refuses to charge off the account or otherwise disclose the information. The receivable represents 10% of accounts receivable and 20% of net earnings before taxes. First, Identify which of the conditions requiring a modification of or a deviation from an unqualified standard report is applicable: [ Select ] Second, suppose this is

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Four weeks after the year-end date, a major-customer of Prince Construction Co. declared bankruptcy....
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