Which Statements About the Going Concern Assumption Are Correct

question 50

Multiple Choice

Which statements about the going concern assumption are correct?

• A) The company will not be able to continue operating in the next accounting period.
• B) The auditor is responsible for the company to be able to continue operating in the foreseeable future.
• C) The company will be able to continue operating in the foreseeable future.
• D) none of the above

---

Definitions:

Associate

To connect or link in one's mind, often referring to the process of forming mental connections between ideas, objects, or experiences.

Law Of Effect

A psychological principle stating that behaviors followed by satisfying consequences are more likely to be repeated, while those followed by unpleasant consequences are less likely to be repeated.

Profane Language

The use of words or expressions considered disrespectful, vulgar, or abusive in certain contexts or cultures.

Approving Laughter

Laughter that expresses agreement, appreciation, or support, often occurring in social interactions to convey positive reinforcement.