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a . Which of the following is least likely to be an audit objective for debt? (1) Determine the existence of recorded debt. (2) Establish

a. Which of the following is least likely to be an audit objective for debt?

(1) Determine the existence of recorded debt.

(2) Establish the completeness of recorded debt.

(3) Determine that the client has rights to receive proceeds relating to the redemption of debt.

(4) Determine that the valuation of debt is in accordance with generally accepted accounting principles.

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