In the audit of a medium-sized manufacturing concern, which one of the following areas can be expected to require the least amount of audit time?

Question

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Retained earnings represent the accumulated profits of a company that have not been distributed to shareholders as dividends. This account does not involve significant transactional activity and is less likely to have material misstatements, making it the area that is expected to require the least amount of audit time. Revenue, assets, and liabilities involve more complex and significant audit procedures due to the nature of the transactions and balances involved.

In the Audit of a Medium-Sized Manufacturing Concern, Which One