When an auditor of financial statements has substantial doubt about an entity's ability to continue as a going concern, the auditor most likely would express a qualified opinion if

Select one:

a.

The effects of the adverse financial conditions are likely to be negative.

b.

Negative trends and recurring operating losses appear to be irreversible.

c.

Management has no plans to reduce or delay future expenditures.

d. Information about the entity's ability to continue as a going concern is not disclosed in the financial statements.