alleryStart learning →If statements are not on a going concern basis, what must be disclosed?
AOnly the liquidator's name and fee
BJust the date of liquidation plan
CThe fact, the basis used and the reason
DThe share price on the closing date
Answer & Solution
Correct answer: C. The fact, the basis used and the reason
An entity must state that it is not a going concern, the basis on which statements were prepared and why it is not regarded as one.
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