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mithson Company, a subsidiary of Gladco Corporation, is currently being audited by Greenleaf CPAs. Senior management of mithson has recently apprised the auditors that there
mithson Company, a subsidiary of Gladco Corporation, is currently being audited by Greenleaf CPAs. Senior management of mithson has recently apprised the auditors that there may be a going concern issue with the firm. Which of the following should the uditors consider to determine the severity of this issue? (Select all that apply.) Whether Smithson Company's parent firm, Gladco Corporation will provide liquidity if the need arises. Whether Smithson is in a position to raise extra capital in the equities and credit markets, should the need arise. What the likelihood of receiving payment for audit services rendered is likely to be. How quickly Smithson can liquidate property, plant and equipment to settle short-term liabilities, should the need arise
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