The Auditor Is Responsible for Evaluating the Likelihood of a Client

question 51

Multiple Choice

The auditor is responsible for evaluating the likelihood of a client continuing as a going concern for a reasonable period of time.A reasonable period of time is which of the following?

• A)one year from the audit report date.
• B)one year from the last day of field work.
• C)one year from the balance sheet date.
• D)two years from the balance sheet date.

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Definitions:

Counterconditioning

A therapeutic technique aiming to change the response to a certain stimulus by associating it with a new, more desirable behavior or response.

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment, developed by B.F. Skinner.

B.F. Skinner

An American psychologist best known for his work in behaviorism and the development of the theory of operant conditioning.

Observable Conditions

Conditions or states that can be seen or noticed, allowing for objective measurement or assessment.