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Introduction to Auditing and Internal Control > Audit Adjustments and Forming an Opinion > Flashcards

Audit Adjustments and Forming an Opinion Flashcards

1
Q

What is a going concern?

A

It implies that the entity will be able to continue business for the forseeable future

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2
Q

How does a going concern make implications?

A

It means that debts will be able to be paid in ordinary business and assets exceed liabilities

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Introduction to Auditing and Internal Control (10 decks)

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