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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 31
An audit plan to examine long-term debt most likely would include steps that require
A) Comparing the carrying amount of held-to-maturity securities with their year-end market values.
B) Correlating interest expense recorded for the period with outstanding debt.
C) Verifying the existence of the holders of the debt by direct confirmation.
D) Inspecting the accounts payable subsidiary ledger for unrecorded long-term debt.
A) Comparing the carrying amount of held-to-maturity securities with their year-end market values.
B) Correlating interest expense recorded for the period with outstanding debt.
C) Verifying the existence of the holders of the debt by direct confirmation.
D) Inspecting the accounts payable subsidiary ledger for unrecorded long-term debt.
Explanation
Verified
Verified
The correct answer is b.Correlating the ...
Auditing & Assurance Services 6th Edition by Timothy Louwers
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