Following are selected questions from an internal control questionnaire relating to a company's debt and equity transactions. A \/es response to any question indicates a potential strength of the system, and a no response indicates a potential weakness.

a. Are all long-term debt and other borrowings authorized bv the board of directors?

b. Is an officer responsible for determining whether all debt covenants are complied with?

c. Are unissued bonds and notes prenumbered consecutively and controlled by an official independent of recording?

d. Are interest payments and accruals recalculated periodically?

e. Are unissued stock certificates prenumbered consecutively and safeguarded?

f. Are treasury shares adequately controlled and accounted for?

g. Are dividend payments and accruals recalculated periodically?

Required: 

Assume that inquiries indicate no apparent deficiencies in internal control.
Draft tests of controls that you believe would provide persuasive evidence that no deficiencies exist.