Actual Interest Expense Is Significantly Higher Than the Auditor's Estimate

question 58

Multiple Choice

Actual interest expense is significantly higher than the auditor's estimate. This would most likely lead the auditor to conclude that the client has not

• A) recorded all long-term interest-bearing debt in the accounting records.
• B) recorded all interest expense paid or accrued.
• C) properly accounted for the discount of bonds payable account.
• D) properly recorded interest income.

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