In this concept, accounts assume that the business will continue operating at a foreseeable future.
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In this concept, accounts assume that the business will continue operating at a foreseeable future.
In this concept, accounts assume that the business will continue operating at a foreseeable future.
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Answer:
The going concern principle assumes that any organization. Organizational structures will continue to operate its business for the foreseeable future.
Explanation:
Is the concept that a business will remain in operation for the foreseeable future?
The going concern principle is the assumption that an entity will remain in business for the foreseeable future. Conversely, this means the entity will not be forced to halt operations and liquidate its assets in the near term at what may be very low fire-sale prices.
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