With Respect to the Going Concern Assumption, Under Generally Accepted

question 87

Multiple Choice

With respect to the going concern assumption, under Generally Accepted Accounting Principles (GAAP) , a reasonable period of time is _______.

• A)considered to be 90 days
• B)considered to be 180 days
• C)one year from the date the client issues financial statements
• D)two years from the date the client issues financial statements

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Definitions:

Hearing Aid

A device designed to improve hearing by making sound audible to a person with hearing loss.

Adapt

The process of adjusting to new conditions or environments.

Dim Light

Low, insufficient lighting that makes vision difficult.

Distracted

The state of having one's attention diverted from a task or train of thought, often due to external stimuli or internal concerns.