The concept of 'Going Concern' assumes that: MCQ with Answer and Explanation

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The concept of 'Going Concern' assumes that:

A. The business will continue operations indefinitely

B. The business is not viable

C. Profits are not important

D. The business will be liquidated soon

Answer: Option A

Solution (By JKExamLibrary)

Going concern concept assumes that the enterprise will continue in operation for the foreseeable future, and has no intention to liquidate.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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