Which of the Following Management Assertions for Long-Term Liabilities Is

question 38

Multiple Choice

Which of the following management assertions for long-term liabilities is related to completeness?

• A)All material long-term liabilities are recorded.
• B)Assumption of new long-term liabilities and repayment of debt are properly authorized.
• C)Terms,conditions,and restrictions relating to long-term debt are adequately disclosed.
• D)Disclosure of five-year repayment schedule and debt maturity dates is accurate and adequate.

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Definitions:

Traction

The frictional force between a vehicle's tires and the surface it is on, allowing the vehicle to move forward or stop.

Air System Components

Parts of an air system, including compressors, valves, sensors, and hoses, that work together to manage and control air flow.

Methyl Hydrate

A solvent commonly known as methanol or wood alcohol, used in a variety of applications from antifreeze to fuel.

Litmus Paper

A type of paper used to test if a solution is acidic or basic by changing color upon exposure.