Question: 1 . What is the Going Concern assumption? What does this mean for assets and liabilities? a . How does an auditor assess whether there

1. What is the Going Concern assumption? What does this mean for assets and liabilities?
a. How does an auditor assess whether there is a going concern risk? List at least six (6) major items to consider.
b. Why would an assessment of cash flow be very critical to this risk assessment?
c. Why would it be important to understand the companys debt to equity ratio?

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