43. When considering whether a client is a going concern, the auditor under GAAS must look at a cash flow forecast that covers what period of time and why? ______________________________________________________________________________ ______________________________________________________________________________44. A summary of unadjusted differences is made up of what three components discussed in class? ______________________________________________________________________________ ______________________________________________________________________________ __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

45. A clients major customer, who owes the client a material amount of money, goes bankrupt after its 12/31 year-end but before the audit report is issued. The auditor determines that the client will not collect its accounts receivable from that customer and that the underlying condition existed at the balance sheet date. The bankruptcy is referred to under GAAS as a _____________________________________________________________________________. How does the auditor address this situation? __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

46. What is the standard for an auditor to conclude it must issue a going concern opinion?

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