Independent Auditors Must Consider Whether the Entity Has the Ability

question 28

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 emphasis-of-matter paragraph describing the going-concern uncertainty.

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Definitions:

Stanford-Binet

An individually administered intelligence test that assesses cognitive abilities and derives an IQ score.

Time Limit

A fixed duration allocated for a specific action or event to take place or to be completed.

Minutes

Units of time that are equal to one-sixtieth of an hour or 60 seconds.

Unlimited Time

A condition or situation where there is no restriction or limit on the amount of time available.