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The primary reason for preparing a recon...
This question was answered on Apr 15, 2011. View the Answer
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.

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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...

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