Intelligis Electronics is a manufacturer of advanced electrical components. During the year, changes in the...
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Intelligis Electronics is a manufacturer of advanced electrical components. During the year, changes in the market resulted in a significant decrease in the demand for their products, which are now being sold significantly below cost. Management refuses to writeoff the products or to increase the reserve for obsolescence. If the size of the misstatement is pervasive the auditor most likely would issue an report.
Intelligis Electronics is a manufacturer of advanced electrical components. During the year, changes in the market resulted in a significant decrease in the demand for their products, which are now being sold significantly below cost. Management refuses to writeoff the products or to increase the reserve for obsolescence. If the size of the misstatement is pervasive the auditor most likely would issue an report.
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