Typically, When a Going Concern Issue Exists the Auditor Should

question 21

Multiple Choice

Typically, when a going concern issue exists the auditor should:

• A)Issue an unqualified opinion with an explanatory paragraph
• B)Explain the reasons for the going concern issue
• C)Indicate where management's plans to deal with the going concern are addressed
• D)All of the above

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Definitions:

Stepwise Regression

A method of regression analysis in which variables are added or removed from a multivariable model in a step-by-step fashion based on statistical criteria.

F-statistic

A ratio used in statistical analysis to compare the variance across different groups to evaluate the significance of relationships between variables in a linear model.

P-value

A statistical measure that helps scientists and researchers determine the significance of their research results.

Odds Ratio

A measure of association between an exposure and an outcome, representing the odds that an event will occur given the exposure vs. the odds of the event occurring without the exposure.