Which of the Following Management Assertions for Long-Term Liabilities Is

question 49

Multiple Choice

Which of the following management assertions for long-term liabilities is related to the ASB balance assertion of completeness?

• A)All material long-term liabilities are recorded.
• B)New long-term liabilities and debt extinguishments are properly authorized.
• C)Terms, conditions, and restrictions relating to noncurrent debt are adequately disclosed.
• D)Disclosures of maturities for the next five years are accurate and adequate.

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Definitions:

Respiratory Alkalosis

A condition characterized by a decrease in the carbon dioxide level in the blood, often due to rapid or deep breathing, leading to a pH imbalance where the blood becomes too alkaline.

Blood Ph

The measure of the acidity or alkalinity of the blood, typically maintained within a tight range around a neutral pH of 7.4.

CO₂

Carbon dioxide, a colorless gas produced by burning carbon and organic compounds and by respiration. It is absorbed by plants in photosynthesis.

Vasoconstriction

The narrowing of blood vessels, which increases blood pressure by reducing the volume or space inside the vessels.