Reviewing interest expense to identify payments to debt-holders not listed on the debt analysis schedule is a procedure that can be used to provide evidence for which audit assertion for loans payable:
A) occurrence.
B) completeness.
C) cut-off.
D) accuracy.

Question

Quizplus · Accepted Answer

Reviewing interest expense to identify payments to debt-holders not listed on the debt analysis schedule would help to ensure that all loans payable balances have been included in the completeness assertion.

Reviewing Interest Expense to Identify Payments to Debt-Holders Not Listed