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Ace Company is preparing a balance sheet on December 31, Year One. The company has a very large note payable coming due on March 17,

Ace Company is preparing a balance sheet on December 31, Year One. The company has a very large note payable coming due on March 17, Year Three. A cash forecast indicates that Ace will not be able to make that payment when it comes due. Does substantial doubt that the company will be able to continue as a going concern require disclosure?

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