Question: Questions Explain going concern assumptions and why is it important to follow this in preparing financial reports. Why loan payable of $1,000,000.00 is a liability?

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Explain going concern assumptions and why is it important to follow this in preparing financial reports.

Why loan payable of $1,000,000.00 is a liability? Discuss by applying the essential characteristics of a liability as described in the Conceptual Framework.

What is efficient markets hypothesis? Explain different types of market efficiency.

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