On What Information Does the Auditor Base a Going Concern

question 45

Multiple Choice

On what information does the auditor base a going concern evaluation?

• A)On separate procedures.
• B)On the management discussion and analysis (MD&A).
• C)On information obtained from normal audit procedures performed to test management's assertions.
• D)On the statement of cash flows for the current period.

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Definitions:

Proximal End

The part of a limb or structure that is nearest to the body or to the point of attachment.

Greater Tubercle

A prominence on the upper lateral part of the humerus, serving as the site of attachment for several shoulder muscles.

Anatomical Neck

The region of a bone that connects the head of the bone to its body or shaft, often found in long bones like the humerus or femur.

Congenital Acetabular Dysplasia

A developmental disorder of the hip joint where the acetabulum is inadequately developed, leading to instability and potential dislocation of the hip.