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Why is an auditor interested in PPE that is not currently being used or could become idle in the near future? Explain why completeness is a more critical assertion for long-term debt than for cash, inventory, or PPE

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Why is an auditor interested in PPE that is not currently being used or could become idle in the near future?

Explain why completeness is a more critical assertion for long-term debt than for cash, inventory, or PPE. What procedures are primarily designed to address the completeness assertion for longterm debt?

Explain the importance of obtaining confirmations regarding notes payable.

Explain how an auditor will usually test interest expense when auditing notes payable