The audit procedure 'examine due dates on duplicate copies of loans payable to determine whether all or part of the loans are a noncurrent liability' is performed when verifying the classification objective for loans payable.

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The audit procedure 'examine due dates on duplicate copies of loans payable to determine whether all or part of the loans are a noncurrent liability' is specifically related to verifying the classification objective for loans payable. Therefore, the statement is true.

The Audit Procedure 'Examine Due Dates on Duplicate Copies of Loans