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In connection with the audit of an issue of long-term bonds payable, the auditor shoulda. Determine whether bondholders are persons other than owners, directors, or officers of the company issuing the bond.b. Calculate the effective interest rate to see if it is substantially the same as the rates for similar issues.c. Decide whether the bond issue was made without violating state or local law.d. Ascertain that the client has obtained the opinion of counsel on the legality of the issue.
In connection with the audit of an issue of long-term bonds payable, the auditorshoulda. Determine whether bondholders are persons other than owners, directors, orofficers of the company issuing…
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