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Gruen Corporation is a large diversified company with a large amount of property, plant, and...

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Accounting

Gruen Corporation is a large diversified company with a large amount of property, plant, and equipment and intangible assets, including goodwill. In the past year the company has experienced a significant decline in a number of its lines of business. a. What risk of material misstatement is indicated from the information provided? b. Describe how the auditors would generally obtain evidence about the value of goodwill.

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