Independent Auditors Must Consider Whether the Entity Has the Ability

question 116

Multiple Choice

Independent auditors must consider whether the entity has the ability to continue as a going concern. If a substantial doubt exists but disclosure is adequate and no other basis exists for modifying the report, the auditors would normally

• A)disclaim an opinion.
• B)express an adverse opinion.
• C)qualify the opinion.
• D)express an unmodified opinion with an additional section describing the going-concern uncertainty.

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Definitions:

Vagus Nerve Stimulation

A treatment involving the delivery of electrical impulses to the vagus nerve to manage seizures or depression.

Transcranial Magnetic Stimulation

A non-invasive procedure that uses magnetic fields to stimulate nerve cells in the brain, often used in treating depression.

ECT

Electroconvulsive Therapy, a medical treatment most commonly used for severe depression which involves inducing seizures in an anesthetized patient with the aim of providing relief from psychiatric illnesses.

Lithium

A metallic element that occurs in nature as a mineral salt and is an effective treatment for bipolar disorders.