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Ratings issued by Nationally Recognized Statistical Rating Organizations (NRSROs)   are unrelated to the yield of the instrument. are issued for all debt securities except for any government issued securities. are based on the issue's default risk. are influenced by the issue's liquidity risk.

Ratings issued by Nationally Recognized Statistical Rating Organizations (NRSROs)   are unrelated to the yield of the instrument. are issued for all debt securities except for any government issued securities. are based on the issue's default risk. are influenced by the issue's liquidity risk.

Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter13: Auditing Debt, Equity, And Long-term Liabilities Requiring Management Estimates
Section: Chapter Questions
Problem 19CYBK
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  • Ratings issued by Nationally Recognized Statistical Rating Organizations (NRSROs)

 

  1. are unrelated to the yield of the instrument.
  2. are issued for all debt securities except for any government issued securities.
  3. are based on the issue's default risk.
  4. are influenced by the issue's liquidity risk.
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