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Accounting

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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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9419678

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