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You are auditing the long-term notes payable account for a client. Which of the following audit ...

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You are auditing the long-term notes payable account for a client. Which of the following audit ...

You are auditing the long-term notes payable account for a client. Which of the following audit procedures would you most likely employ?

▸ Compare interest expense recorded by the client with the notes payable account for reasonableness.

▸ Confirm bonds payable with individual bond holders.

▸ Perform analytical procedures on the bond discount or premium account.

▸ Examine bond documents for the presence of hybrid securities.

Textbook

Auditing and Assurance Services

Edition: 17^th

Authors: Arens, Elder, Beasley, Hogan

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jugganuts Author

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Thank you, thank you, thank you!

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