Which of the Following Is the Auditor's Primary Objective When

question 68

Multiple Choice

Which of the following is the auditor's primary objective when auditing debt?

• A)Understatement of the debt obligation focusing on the completeness assertion.
• B)Proper valuation of bond premium or bond discount,including amortization valuation.
• C)Valuation of gains or losses on refinancing debt.
• D)Proper presentation and disclosure,including important restrictions contained in the debt.

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Definitions:

Socialism

An economic system in which the government owns and operates basic industries but individuals own most businesses.