Question: In auditing long-term debts, the auditors objectives include the below, except: (a) Determine whether all debts, loans are properly recorded (b) Determine whether proper authorization


In auditing long-term debts, the auditor’s objectives include the below, except:

(a) Determine whether all debts, loans are properly recorded

(b) Determine whether proper authorization for issues of notes or bonds

(c) Determine whether adequate controls over payment of interest and principal

(d) Determine whether the firm (client) has a periodic independent verification system

(e) None

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