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Descriptio n Going Concern Paragraph (6 points) Instructio ns A new staff auditor has drafted the paragraph below, which is intended to be added to the audit report of JKL Company about going concern issues. For each of the statements below, indicate whether it is \"true\" or \"false\" by selecting the appropriate choice. The accompanying financial statements have been prepared assuming that the JKL Company will continue as a going concern. As discussed in Note X to the financial statements, JKL Company has suffered recurring losses from operations and has a net capital deficiency. If these losses continue, there will be some doubt about its ability to continue as a going concern. Management has plans to deal with these issues. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Multiple Attempts Not allowed. This test can only be taken once. Force Completio n This test can be saved and resumed later. Question Completion Status: 1 2 3 4 5 6 QUESTION 1 The paragraph should be placed after the opinion paragraph of the auditor's report. True False 1 points QUESTION 2 It is appropriate to include reference to a note (i.e. Note X) in the financial statements. True False 1 points QUESTION 3 Management's plans to deal with the issues should have a reference to a note (i.e. Note X) that discusses them. True False 1 points QUESTION 4 The phrase \"continue as a going concern\" should be replaced with the phrase \"remain profitable.\" True False 1 points QUESTION 5 If the auditor was satisfied with the plans that management has to deal with the uncertainty, no paragraph need be added to the audit report. True False 1 points QUESTION 6 The auditor's going concern reference in the audit report is an opinion qualification. True False 1 points