Which of the Following Information Need Not Be Reported in the Auditors

question 54

Multiple Choice

Which of the following information need not be reported in the auditors' report if the information is considered to be properly stated after performing appropriate procedures?

• A) FASB-required supplementary information.
• B) Other information in documents containing audited financial statements.
• C) Supplementary information in relation to the financial statements as a whole.
• D) GASB-required supplementary information.

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Definitions:

Bond Payable

A long-term debt instrument issued by corporations or governments to raise capital, with the obligation to pay back with interest.

Discount on Bonds Payable

The difference when a bond is issued for less than its face value or nominal value.

Bond Interest Expense

The cost incurred by an issuer of bonds due to the interest payments made to bondholders.

Tax Deductible

Expenses that can be subtracted from gross income to reduce taxable income.