Management is required to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern for:
A. A reasonable period of time not to exceed one year beyond the date of the external auditor’s report.
B. A reasonable period of time not to extend beyond the end of the current calendar year.
C. A reasonable period of time not to exceed one year beyond the date the financial statements are issued.
D. A reasonable period of time not to exceed one year beyond the date of the financial statements.
Answer:D
Management is required to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern for:
A. A reasonable period of time not to exceed one year beyond the date of the external auditor’s report. B. A reasonable period of time not to extend beyond the end of the current calendar year. C. A reasonable period of time not to exceed one year beyond the date the financial statements are issued. D. A reasonable period of time not to exceed one year beyond the date of the financial statements.