In Auditing Long-Term Bonds Payable,an Auditor Most Likely Would

question 61

Multiple Choice

In auditing long-term bonds payable,an auditor most likely would

• A) Perform analytical procedures on the bond premium and discount accounts.
• B) Examine documentation of assets purchased with bond proceeds for liens.
• C) Compare interest expense with the bond payable amount for reasonableness.
• D) Confirm the existence of individual bondholders at year-end.

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