Which Management Assertion Is of Most Importance to Auditors in Examining

question 8

Multiple Choice

Which management assertion is of most importance to auditors in examining long-term debt?

• A)Existence.
• B)Completeness.
• C)Rights and obligations.
• D)Presentation and disclosure.

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Definitions:

Income Before Interest

The earnings generated by a business before interest expenses are subtracted, indicating operational profitability.