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)existence.
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 is a procedure that can provide evidence for the completeness assertion for loans payable, since it helps to ensure that all debt obligations have been included in the financial statements.

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