Tests of Controls Over the Authorization Assertion for Long-Term Debt

question 1

Multiple Choice

Tests of controls over the authorization assertion for long-term debt would include:

• A) reviewing the minutes of the board of directors meetings.
• B) tracing new debt issuances to the appropriate ledger.
• C) tracing cash received from debt to the cash receipts journal and general ledger.
• D) All of the above.

---

Definitions:

Compensation Survey

A tool used to gather and analyze compensation data within an industry or region to benchmark salaries and benefits.

Conducting

The act of leading, directing, or managing an activity or group of people, often in the context of music or research.

Steps

Sequential actions or procedures designed to accomplish a specific task or to reach a particular goal.

Performance Appraisals

The systematic evaluation of employees' work performance, typically conducted by supervisors or managers to provide feedback and identify areas for development.