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An Entity Should Not Prepare Its Financial Statements on a Going

Question 9

Multiple Choice

An entity should not prepare its financial statements on a going concern basis if


A) the entity does not fully comply with IFRS.
B) the bank has notified the entity that the entity has violated loan debt covenants.
C) a fire destroyed a significant production facility.
D) management determines after the reporting period either that it intends to liquidate the entity or to cease trading.

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