If Actual Interest Expense Is Materially Larger Than the Auditor's

question 66

Multiple Choice

If actual interest expense is materially larger than the auditor's independent estimate,one possible cause could be

• A)interest payments on unrecorded notes payable.
• B)omitted payments of interest (i.e. ,underpayments).
• C)interest payments recorded at the wrong (lower)interest rate.
• D)notes payable that were set up incorrectly as short-term notes.

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