Match each of the following controls with the assertion for long-term debt that it supports.
-Premiums and discounts on bond and notes payables are properly amortized using the effective interest rate method
A)Classification
B)Accuracy, Valuation, and Allocation
C)Completeness
D)Occurrence and Authorization

Question

Match each of the following controls with the assertion for long-term debt that it supports.
-Premiums and discounts on bond and notes payables are properly amortized using the effective interest rate method
A)Classification
B)Accuracy, Valuation, and Allocation 
C)Completeness
D)Occurrence and Authorization

Quizplus · Accepted Answer

The assertion of accuracy, valuation, and allocation is supported by properly amortizing premiums and discounts on bond and notes payables using the effective interest rate method.

Match Each of the Following Controls with the Assertion for Long-Term