1) Uncertainties and practical difficulties due to COVID-19 have been translated into many challenges and risks in the preparation of financial statements. The implications for financial statements, among others, include the reporting entities ability to continue as a going concern. Discuss: a) why the preparers of financial statements are increasingly questioning the going concern assumption amid the stressed economic condition due to the pandemic; and b) three factors that preparers of financial statements should consider when assessing whether an entity is a going concern;