In auditing for unrecorded long- term bonds payable, an audit team most likely will a. Perform analytical
Question:
a. Perform analytical procedures on the bond premium and discount accounts.
b. Examine documentation of assets purchased with bond proceeds for liens.
c. Compare interest expense with the bond payable amount for reasonableness.
d. Confirm the existence of individual bondholders at year- end.
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a Incorrect If bonds are unrecorded nothing will show up in bond premium or discount b Incorrect Th...View the full answer
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Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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