Interest-bearing obligations

Assignment Help Accounting Basics

Reference no: EM13139497

The primary reason for preparing a reconciliation between interest-bearing obligations outstanding during the year and interest expense in the financial statements is to:

a. Evaluate internal control over securities.

b. Determine the validity of prepaid interest expense.

c. Ascertain the reasonableness of imputed interest.

d. Detect unrecorded liabilities.

Reference no: EM13139497

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