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

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"Reasonable period of time, not to exceed one year" "Going concem" (A) Yes Yes (C) (B) Yes No No Yes (D) No No