4) When is the best time to test for unrecorded liabilities? 10 Points During the test of controls to identify evidence for the audit plan. Amytime before the balance sheet date Typically, unrecorded liabilities are tested after the balance sheet date. 5) Which 3rd Party will most likely execute the following tasks as part of their services to the company? o Protect creditors interest o Monitor compary's compliance with requirements of bond agreement (provisions) o Maintains detailed records of owners of bonds. o Cancels old bond certificates. o Issues new bonds. o Distributes interest payments and principal payments. 10 Points Trustee Stock Transfer Agent Stock Register 6) When management intentionally records expenditures as property, plant, and equipment acquisitions to overstate income, this is an example of 10 Points Accounting mistake Fraud Data entry error