YYZ has incurred 3 consecutive years of significant losses, and has a large payable due in the next 12 months which they don't expect to have the cash to pay. The president of the company does not address these losses in the published financial statements. Which of the following, given the information provided, is true? 

 a) Separate entity - violated 

b) Going concern - violated 

c) Units of measure - violated 

d) Time period (Periodicity) - violated 

e) Historical cost - violated

Answer rating: 100% (QA)

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