Business, 02.09.2021 17:10 chantianabess36

E-Lotions, Inc. is an online retailer of body lotions and other bath and body supplies. The company records revenues at the time customer orders are placed on the Web site, rather than when the goods are shipped, which is usually 2 days after the order is placed. The auditor determined that the amount of orders place but not shipped as of the balance sheet date is not material. Required:
a. State the condition (either change in accounting principle, failure to follow GAAP, none, reporting involving other auditors, or scope of the audit has been restricted)
b. State the materiality level (either Material, immaterial, highly material, material or highly material, or not applicable)
c. List any additional information needed (either amount of loss, auditor's preliminary judgement, client explanation in a memo, or the size of the misstatement

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E-Lotions, Inc. is an online retailer of body lotions and other bath and body supplies. The company...

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