The Audit Objective That Requires That Existing Notes Payable Be

Multiple Choice

The audit objective that requires that existing notes payable be included in the notes payable schedule is satisfied by performing which of the following audit procedures?

A) confirm notes payable
B) trace the total of the notes payable schedule to the general ledger
C) review the notes payable schedule to determine whether any are related parties
D) obtain confirmations from creditors who have held notes from the client in the past and are not currently included in the notes payable schedule