Explain why the going concern assumption is important to know when reading a financial statement.

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Horngrens Accounting Volume 1

ISBN: 9780136889373

12th Canadian Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

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Question Posted: May 16, 2023 04:06 AM

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Explain why the going concern assumption is important to know when reading a financial statement.

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The going concern assumption is an important principle in accounting that assumes a business will continue to operate indefinitely and not face imminent liquidation or cessation of operations It impli...View the full answer

Horngrens Accounting Volume 1

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