The Auditor Is Responsible for Evaluating the Likelihood of a Client

question 34

Multiple Choice

The auditor is responsible for evaluating the likelihood of a client continuing as a going concern for a reasonable period of time.What is considered to be a reasonable time period?

• A)One year from the audit report date.
• B)One year from the last day of field work.
• C)One year from the balance sheet date.
• D)Two years from the balance sheet date.

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Definitions:

Cognitive-Behavioral Therapy

A form of psychotherapy that aims to improve mental health by addressing and modifying dysfunctional emotions, behaviors, and thoughts using a systematic, goal-oriented approach.

Present Focus

The practice or mental state of concentrating one's awareness on the current moment, while calmly acknowledging and accepting one's feelings, thoughts, and bodily sensations.

Gestalt Therapy

An approach to therapy that prioritizes the idea of individual responsibility, paying special attention to a person's present experiences, the relationship maintained with the therapist, the significance of the person's situational context including their social and environmental factors, and the self-directed changes they apply owing to their general life scenario.

Reinforcement

in behavioral psychology, refers to any stimulus that strengthens or increases the likelihood of a behavior by providing a consequence an individual finds rewarding.