Saved 0 estions Select the necessary words from the list of possibilities to complete the following statements. Statements 1. The formal document creating bonded indebtedness is called the 2. If violation of a debt provision makes a debt payable on demand, the debt must be classifed as a current asset is obtained from the trustee or the financial institution. unless a_ 3. To continue to dlassifly a maturing debt as a long-term liability, the cdlient must demonstrate both the to refinance the debt. should be added to the face amount of the bonds or debentures in the liability section Unamortized of the balance sheet. 4. internal control over the payment of dividends is enhanced when the company utilizes the services of an I s. The primary responsibility of the independent stockis to avold any over-Issuance of stock of the corporation The number of shares of stock issued and outstanding at the balance sheet date may be confirmed by direct For a continuing audit client, the audit of retained eamings often consists of determining that the net income was added to the beginning balance and that the were subtracted. a In the audit of interest-bearing debt, the auditors' primary substantive procedures will include transactions occurring during the period to available support 10. In the audit of interest-bearing debt, the auditors confirm balances and terms and examine the 11. The of the corporation normally require that borrowing be approved by the board of directors Saved 0 estions Select the necessary words from the list of possibilities to complete the following statements. Statements 1. The formal document creating bonded indebtedness is called the 2. If violation of a debt provision makes a debt payable on demand, the debt must be classifed as a current asset is obtained from the trustee or the financial institution. unless a_ 3. To continue to dlassifly a maturing debt as a long-term liability, the cdlient must demonstrate both the to refinance the debt. should be added to the face amount of the bonds or debentures in the liability section Unamortized of the balance sheet. 4. internal control over the payment of dividends is enhanced when the company utilizes the services of an I s. The primary responsibility of the independent stockis to avold any over-Issuance of stock of the corporation The number of shares of stock issued and outstanding at the balance sheet date may be confirmed by direct For a continuing audit client, the audit of retained eamings often consists of determining that the net income was added to the beginning balance and that the were subtracted. a In the audit of interest-bearing debt, the auditors' primary substantive procedures will include transactions occurring during the period to available support 10. In the audit of interest-bearing debt, the auditors confirm balances and terms and examine the 11. The of the corporation normally require that borrowing be approved by the board of directors