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James Carson and Martin Tighe,CPAs Have Audited All the Accounts

Question 124

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James Carson and Martin Tighe,CPAs have audited all the accounts on the balance sheet.James Carson argues with Martin Tighe that since retained earnings is a balancing amount,it requires no further examination.Martin Tighe,however,disagrees and argues that they should still choose to audit retained earnings.Who do you agree with and why?

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Martin Tighe is correct.
The retained ea...

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