AUDIT REPORT is a signed, written document which presents the purpose, scope, and results of the audit. Results of the audit may include findings, conclusions (opinions), and recommendations.
FINANCIAL FORECASTS are prospective financial statements that present expected future financial position, results of operations, and cash flows based on expected conditions, i.e. a financial forecast is of the most likely future scenario.
EX-FACTORY is where a sellers responsibility ends when the buyer at point of origin, i.e., factory, accepts merchandise. This can also be written as Ex-Warehouse, Ex-works, etc.
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