Which of the following statements is (are) true, concerning the Going Concern assumption?

I. When preparing financial statements, management is required to make an assessment

of an enterprise's ability to continue as a going concern which should be at least twelve

months from balance sheet date.

II. When an enterprise has a history of profitable operations and ready access to financial

resources it is not a detailed analysis as to is ability to operate as a going concern is not

necessary.

III. When the financial statements are not prepared on a going-concern basis, this fact should

be disclosed

A. I and II only C. II and III

B. II and III only D. I, II, and III