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:

Correlated

When two variables are found to have a statistical relationship with each other, meaning changes in one variable are associated with changes in another.

IQ Score

A measure of a person's cognitive abilities in relation to their age group, calculated through various standardized tests.

Utility

the total satisfaction or benefit derived from consuming a good or service.

Individual's Intelligence

A measure of a person's cognitive capabilities, including the ability to learn, understand, and apply knowledge.