In auditing long-term debt,an auditor would be most likely to:

Question

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When auditing long-term debt, the auditor's main concern is to determine whether the debt provisions have been met. This includes evaluating whether the terms of the debt agreements have been complied with, such as interest and principal payments, and determining if the debt is at risk of default. Other options, such as performing analytical procedures on the bond prenumbered discount accounts or confirming the existence of individual long-term debt holders at year-end, are less relevant to determining the auditor's assurance on the long-term debt balance.

In Auditing Long-Term Debt,an Auditor Would Be Most Likely To