Question: An auditor concludes that there is substantial doubt about an entitys ability to continue as a going concern for a reasonable period of time. If

An auditor concludes that there is substantial doubt about an entity’s ability to continue as a going concern for a reasonable period of time. If the entity’s financial statements adequately disclose its financial difficulties, the auditor’s report is required to include an emphasis-of-matter paragraph that specifically uses the phrase(s)

"Reasonable period of time, not to exceed 1 year" Yes Yes "Going

"Reasonable period of time, not to exceed 1 year" Yes Yes "Going concern" a. b. Yes No C. No Yes d. No No

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