Which of the Following Statements Regarding the Going Concern Concept

question 50

Multiple Choice

Which of the following statements regarding the going concern concept is FALSE?

• A)Generally accepted accounting principles are based on the going-concern concept.
• B)Dealing with questions of going concern is difficult because auditors are forced to evaluate matters of financial analysis,business strategy,and financial forecasting.
• C)Management best able to provide an honest and objective assessment of a company's ability to continue as a going concern.
• D)Financial difficulties,labour problems,loss of key personnel,litigation,and other such things may be important signals.

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Definitions:

Acupuncture

A traditional Chinese medical practice involving the insertion of thin needles into specific points on the body to relieve pain and treat various physical, mental, and emotional conditions.

Qi

In traditional Chinese medicine, the vital life force or energy that flows through the body, maintaining balance and health.

Acupressure

A form of traditional Chinese medicine that involves applying pressure to specific points on the body to relieve pain or treat various health conditions.

Physical Therapy

A treatment method aiming to alleviate pain, help recover from injury, improve mobility, or manage chronic conditions through physical methods such as exercises and massages.