REASONABLENESS TEST Definition

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REASONABLENESS TEST is where the expected value is determined by reference to data partly or wholly independent of the accounting information system, and for that reason, evidence obtained through the application of such a test may be more reliable than evidence gathered using other analytical procedures.

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BASE TAX YEAR is the tax year prior to the subject tax year.

WHOLESALE is the selling of goods to retail merchants; usually in large quantities for resale to consumers.

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