The auditor's responsibility regarding the going concern assumption is to
A) evaluate the possibility that the company could go bankrupt
B) obtain sufficient appropriate evidence to evaluate the appropriateness of management's use of the going concern assumption in the preparation and presentation of the financial statements
C) formulate an assumption about whether there is a material uncertainty about the company's ability to continue as a going concern
D) determine the implications for the audit report
E) estimate the net income that the company expects to earn during the current year
F) both B and D
G) both C and E
H) both D and E
Correct Answer:
Verified
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