The auditor's responsibility in relation to the assessment of going concern basis of accounting is to: a. Conclude on whether a material uncertainty exists about the entity's ability to continue as a going concern b. All of the choices are correct c. Obtain sufficient appropriate audit evidence regarding appropriateness of use of going concern basis of accounting in the preparation of the financial statements d. Conclude on the appropriateness of management's use of the going concern basis of accounting in the preparation of the financial statements, based on the evidence obtained
The auditor's responsibility in relation to the assessment of going concern basis of accounting is to: a. Conclude on whether a material uncertainty exists about the entity's ability to continue as a going concern b. All of the choices are correct c. Obtain sufficient appropriate audit evidence regarding appropriateness of use of going concern basis of accounting in the preparation of the financial statements d. Conclude on the appropriateness of management's use of the going concern basis of accounting in the preparation of the financial statements, based on the evidence obtained
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The auditor's responsibility in relation to the assessment of going concern basis of accounting is to:
a.
Conclude on whether a material uncertainty exists about the entity's ability to continue as a going concern
b.
All of the choices are correct
c.
Obtain sufficient appropriate audit evidence regarding appropriateness of use of going concern basis of accounting in the preparation of the financial statements
d.
Conclude on the appropriateness of management's use of the going concern basis of accounting in the preparation of the financial statements, based on the evidence obtained
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