What is the importance of cash discounts to the client, Auditing

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What is the importance of cash discounts to the client

Response to the following questions:

1. List one possible control for each of the six transaction-related audit objectives for acquisitions. For each control, list a test of control to test its effectiveness.

2. What is the importance of cash discounts to the client and how can the auditor verify whether they are being taken in accordance with company policy?

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