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Unformatted text preview: as of December 31, 1980 and 1979, and the related statements of income, retained earnings, and changes in financial position for the years then ended. Our examination s were made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the financial statements referred to above present fairly the financial position of XYZ Co. as of December 31, 1980 and 1979, and the results of its operations and changes in its financial position for the years then ended, in conformity with generally accepted accounting principles applied on a consistent basis. Harcourt Brace ACCOUNT ACTUALLY IS: fairly stated materially misstated fairly stated materially misstated Okay Risk of Incorrect Acceptance Risk of Incorrect Rejection Okay C O N C L U D E...
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