Answered: Wilco Inc. discloses in their Item 1A…

Wilco Inc. discloses in their Item 1A risk disclosures the risk that a looming recession could have a negative impact on sales. This is an example of firm-specific risk.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments

Section: Chapter Questions

Problem 33CYBK

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Kk.228.

Wilco Inc. discloses in their Item 1A risk disclosures the risk that a looming recession could have a
negative impact on sales. This is an example of firm-specific risk.
O True
O False

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