Question: Going concern can be defined the best as: This concept assumes that the business will operate for a long period of time and will not

Going concern can be defined the best as: This concept assumes

Going concern can be defined the best as: This concept assumes that the business will operate for a long period of time and will not be dissolved in the near future. This concept discusses the issue of the realization of profit. This concept refuses allocation of cost on different accounting periods. The concept provides the basis for the formation of the accounting equation

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