Question: 14. The auditors program for the examination of long-term debt should include steps that require the a. Verification of the existence of the bondholders. b.

14. The auditor’s program for the examination of long-term debt should include steps that require the

a. Verification of the existence of the bondholders.

b. Examination of any bond trust indenture.

c. Inspection of the accounts payable subsidiary ledger.

d. Investigation of credits to the bond interest income account.

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