The Audit Objective to Determine That Notes Payable in the Schedule

question 22

Multiple Choice

The audit objective to determine that notes payable in the schedule actually exist is verified by the test of details of balances procedure to

• A) foot the notes payable list.
• B) confirm notes payable.
• C) recalculate interest expense.
• D) examine the balance sheet for proper disclosure of noncurrent portions.

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Definitions:

Humanistic Psychology

A historically significant perspective that emphasized human growth potential.

Evolutionary Psychology

A theoretical approach in the social and natural sciences that examines psychological structure from a modern evolutionary perspective.

Change Blindness

A perceptual phenomenon where a person does not notice significant changes in the visual details of a scene.

Dual Processing

The principle that our mind operates on two levels simultaneously: fast, intuitive thinking, and slower, more deliberate thought.