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hliz3 hliz3
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2 years ago
During the course of an audit, a CPA observes that the recorded interest expense seems to be excessive in relation to the balance in the long-term debt account. This observation could lead the auditor to suspect that

▸ long-term debt is understated.

▸ discount on bonds payable is overstated.

▸ long-term debt is overstated.

▸ premium on bonds payable is understated.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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linakhalaflinakhalaf
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