Question
1.A CPA is auditing the Atlantis Diner in Astoria, Queens, NY which historically receives approximately 5% of its revenue in cash. The owner of the
1.A CPA is auditing the Atlantis Diner in Astoria, Queens, NY which historically receives approximately 5% of its revenue in cash. The owner of the diner represents that the diner is a going concern. However, in the last seven years, the company has had an annual net loss of between 2% and 3%. How should the auditor address this situation?
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International Accounting
Authors: Frederick D. Choi, Gary K. Meek
7th Edition
978-0136111474, 0136111475
