CURRENT COST ACCOUNTING Definition

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CURRENT COST ACCOUNTING is a system of accounting which adjusts for changing pricing.

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INHERENT RISK, generally, it is the risk found in the environment and in human activities that is part of existence. In accounting, it is the susceptibility of an audit area to error which could be material, individually or in combination with other errors, assuming that there are no related internal controls.

ET is Earliest Time.

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