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Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343 Exercise 27
In auditing for unrecorded long-term bonds payable, an audit team most likely will
A) Perform analytical procedures on the bond premium and discount accounts.
B) Examine documentation of assets purchased with bond proceeds for liens.
C) Compare interest expense with the bond payable amount for reasonableness.
D) Confirm the existence of individual bondholders at year-end.
A) Perform analytical procedures on the bond premium and discount accounts.
B) Examine documentation of assets purchased with bond proceeds for liens.
C) Compare interest expense with the bond payable amount for reasonableness.
D) Confirm the existence of individual bondholders at year-end.
Explanation
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The correct answer is c.In order to chec...
Auditing & Assurance Services 6th Edition by Timothy Louwers
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