Multiple Choice
If recorded interest expense is higher than the auditor's expectation calculated using recorded debt, all of the following are potential explanations except that:
A) the entity failed to record debt.
B) debt was recorded as equity.
C) the entity used the face interest rate to calculate interest expense on a bond issued at a discount.
D) the entity used the face interest rate to calculate interest expense on a bond issued at a premium.
Correct Answer:
Verified
Correct Answer:
Verified
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