AUDITING RMU
AUDITING RMU
11th Edition
ISBN: 9781260934830
Author: MESSIER
Publisher: MCGRAW-HILL HIGHER EDUCATION
bartleby

Concept explainers

Question
Book Icon
Chapter 17, Problem 17.10RQ
To determine

Concept Introduction:

Going concern is one of the assumptions of the financial statement. According to this assumption, the entity is expected to run its business for the foreseeable future. Hence, the financial statements are prepared assuming that the business will run at least for the next financial statement.

To indicate:The four categories of events that may indicatea going concern problem.

Blurred answer
Students have asked these similar questions
Which of the following is the best definition of the time value of money?A) Money loses value over time due to inflation.B) A dollar today is worth more than a dollar in the future.C) The future value of money is always higher than its present value.D) Interest rates are always tied to the value of money over time.
Which of the following is the best definition of the time value of money?A) Money loses value over time due to inflation.B) A dollar today is worth more than a dollar in the future.C) The future value of money is always higher than its present value.D) Interest rates are always tied  to the value of money over time.
Which of the following is a long-term financing option for a company?A) Accounts PayableB) Bank OverdraftC) Issuing BondsD) Trade Credit need help
Knowledge Booster
Background pattern image
Finance
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Auditing: A Risk Based-Approach (MindTap Course L...
Accounting
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Cengage Learning
Text book image
Survey of Accounting (Accounting I)
Accounting
ISBN:9781305961883
Author:Carl Warren
Publisher:Cengage Learning
Text book image
Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College
Text book image
Cornerstones of Cost Management (Cornerstones Ser...
Accounting
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Cengage Learning
Text book image
Personal Finance
Finance
ISBN:9781337669214
Author:GARMAN
Publisher:Cengage
Text book image
Corporate Fin Focused Approach
Finance
ISBN:9781285660516
Author:EHRHARDT
Publisher:Cengage