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

a. b. "Possible discontinuance of operations" Yes Yes "Reasonable period of time, not to exceed 1 year" Yes No C. No Yes d. No No