(Solution) - The following are three decision factors related to the assessed -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Pages: 5 Words: 1375

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The following are three decision factors related to the assessed level of control risk: effectiveness of internal controls, cost-effectiveness of a reduced assessed level of control risk, and results of tests of controls. Identify the combination of conditions for these three factors that is required before a reduction in substantive procedures is permitted.