Question: Back Which statement accurately defines the going concept? A . It is assumed that the business will continue in operational existence for the foreseeable future.

Back
Which statement accurately defines the going concept?
A. It is assumed that the business will continue in operational existence for the foreseeable future.
B. It is assumed that the business does not intend to continue its operation for much longer.
C. Income should only be recognised when received.
D. The accountant is concerned that the business may be going into liquidation.
Back Which statement accurately defines the going concept? A. It is

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