In Connection with the Audit of an Issue of Long-Term

question 91

Multiple Choice

In connection with the audit of an issue of long-term bonds payable, the audit team should:

• A)determine whether bondholders are persons other than owners, directors, or officers of the company issuing the bond.
• B)calculate the effective interest rate to see if it is substantially the same as the rates for similar issues.
• C)decide whether the bond issue was made without violating state or local law.
• D)ascertain that the client has obtained the opinion of counsel on the legality of the issue.

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Definitions:

Alternative Instructional Approaches

Educational methods or strategies used in teaching that differ from traditional or mainstream techniques, often to accommodate diverse learning needs.

Standard Reading Instruction

Traditional methods of teaching reading that typically focus on phonics, vocabulary, and comprehension skills, often in a structured and systematic manner.

Student-guided

An educational approach where learners have substantial control over the course of their learning process, often emphasizing exploration and self-directed activities.

Teacher-led Discussion

An educational technique where the teacher guides the conversation, presenting topics and directing the flow of dialog among students.