s1: In the absence of significant information to the contrary, an entity is viewed as continuing in operation. S2: If after evaluating management's plans, the auditor concludes that questions about the entity's continued existence are not resolved, he or she should determine whether adequate disclosures are made in the financial statements. a. BOTH STATEMENTS ARE TRUE b. BOTH STATEMENTS ARE FALSE c. ONLY S1 IS TRUE d. ONLY S2 IS TRUE
s1: In the absence of significant information to the contrary, an entity is viewed as continuing in operation. S2: If after evaluating management's plans, the auditor concludes that questions about the entity's continued existence are not resolved, he or she should determine whether adequate disclosures are made in the financial statements. a. BOTH STATEMENTS ARE TRUE b. BOTH STATEMENTS ARE FALSE c. ONLY S1 IS TRUE d. ONLY S2 IS TRUE
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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s1: In the absence of significant information to the contrary, an entity is viewed as continuing in operation.
S2: If after evaluating management's plans, the auditor concludes that questions about the entity's continued existence are not resolved, he or she should determine whether adequate disclosures are made in the financial statements.
a. BOTH STATEMENTS ARE TRUE
b. BOTH STATEMENTS ARE FALSE
c. ONLY S1 IS TRUE
d. ONLY S2 IS TRUE
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