Business risk is the risk that business may discontinue or may suffer losses due to the circumstances. The auditor should assess these risks because it may affect the going concern assumption of accounting. To indicate: Three examples of conditions and events that may indicate existence of business risk.

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Answer 1

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Chapter 4, Problem 4.6RQ

To determine

Concept Introduction:

Business risk is the risk that business may discontinue or may suffer losses due to the circumstances. The auditor should assess these risks because it may affect the going concern assumption of accounting.

To indicate:Three examples of conditions and events that may indicate existence of business risk.

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Answer 2

Question

Chapter 4, Problem 4.6RQ

To determine

Concept Introduction:

Business risk is the risk that business may discontinue or may suffer losses due to the circumstances. The auditor should assess these risks because it may affect the going concern assumption of accounting.

To indicate:Three examples of conditions and events that may indicate existence of business risk.

Expert Solution & Answer

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Answer 3

Question

Chapter 4, Problem 4.6RQ

To determine

Concept Introduction:

Business risk is the risk that business may discontinue or may suffer losses due to the circumstances. The auditor should assess these risks because it may affect the going concern assumption of accounting.

To indicate:Three examples of conditions and events that may indicate existence of business risk.

Expert Solution & Answer

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Answer 4

Question

Chapter 4, Problem 4.6RQ

To determine

Concept Introduction:

Business risk is the risk that business may discontinue or may suffer losses due to the circumstances. The auditor should assess these risks because it may affect the going concern assumption of accounting.

To indicate:Three examples of conditions and events that may indicate existence of business risk.

Expert Solution & Answer

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Answer 5

Chapter 4, Problem 4.6RQ

To determine

Concept Introduction:

Business risk is the risk that business may discontinue or may suffer losses due to the circumstances. The auditor should assess these risks because it may affect the going concern assumption of accounting.

To indicate:Three examples of conditions and events that may indicate existence of business risk.

Answer 6

Chapter 4, Problem 4.6RQ

To determine

Concept Introduction:

Business risk is the risk that business may discontinue or may suffer losses due to the circumstances. The auditor should assess these risks because it may affect the going concern assumption of accounting.

To indicate:Three examples of conditions and events that may indicate existence of business risk.

Answer 7

Chapter 4, Problem 4.6RQ

To determine

Concept Introduction:

Business risk is the risk that business may discontinue or may suffer losses due to the circumstances. The auditor should assess these risks because it may affect the going concern assumption of accounting.

To indicate:Three examples of conditions and events that may indicate existence of business risk.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 4 - Prob. 4.1RQ Ch. 4 - Prob. 4.2RQ Ch. 4 - Prob. 4.3RQ Ch. 4 - Prob. 4.4RQ Ch. 4 - Prob. 4.5RQ Ch. 4 - Prob. 4.6RQ Ch. 4 - Prob. 4.7RQ Ch. 4 - Prob. 4.8RQ Ch. 4 - Prob. 4.9RQ Ch. 4 - Prob. 4.10RQ

Solution Summary: The author explains that business risk affects the going concern assumption of accounting. An entity working in aboard may face business failure due to change in other nations government regulations.

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Chapter 4 Solutions