Which of the following is least likely to cause uncertainty about the ability of an entity to continueas a going concern? A.The entity has working capital deficiencies B.The entity has lost a major customer. C.The entity is suing a competitor for a minor patent infringement. D. The entity has significant recurring operating losses

Going concern: Going concern is one of accounting principle which states that the business is…

Answered: Which of the following is least likely…

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter15: Audit Reports On Financial Statements

Section: Chapter Questions

Problem 25MCQ

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Which of the following is least likely to cause uncertainty about the ability of an entity to continueas a going concern?

	A.	The entity has working capital deficiencies
	B.	The entity has lost a major customer.
	C.	The entity is suing a competitor for a minor patent infringement.
	D.	The entity has significant recurring operating losses

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