The Key Substantive Tests of Balances for the Long-Term Debt

question 71

Multiple Choice

The key substantive tests of balances for the long-term debt and owner's equity process include

• A)obtain a listing of the ending balance of notes payable,long-term debt,and lines of credit
• B)obtain a listing of ending balance in the capital stock accounts
• C)obtain a schedule showing the beginning balance in the retained earnings account and the accumulated other comprehensive income
• D)obtain a listing of the recent payments of notes payable,long-term debt,and lines of credit
• E)obtain a schedule showing the transactions in the retained earnings account and the accumulated other comprehensive income
• F)both A and B
• G)both C and E
• H)both D and E

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