Question: Two assistant auditors were assigned by the auditor-in-charge to the verification of long-term liabilities. Sometime later, they reported to the auditor-in-charge that they had determined

Two assistant auditors were assigned by the auditor-in-charge to the verification of long-term liabilities. Sometime later, they reported to the auditor-in-charge that they had determined that all long-term liabilities were properly recorded and that all recorded long-term liabilities were genuine obligations. Does this determination constitute a sufficient examination of long-term liabilities? Explain.

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