Why is the going-concern assumption an important consideration in understanding financial statements?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
The going concern assumption states that in the absen...View the full answer
Answered By
Cyrus Sandoval
I a web and systems developer with a vast array of knowledge in many different front end and back end languages, responsive frameworks, databases, and best code practices. My objective is simply to be the best web developer that i can be and to contribute to the technology industry all that i know and i can do. My skills include:
- Front end languages: css, HTML, Javascript, XML
- Frameworks: Angular, Jquery, Bootstrap, Jasmine, Mocha
- Back End Languages: Java, Javascript, PHP,kotlin
- Databases: MySQL, PostegreSQL, Mongo, Cassandra
- Tools: Atom, Aptana, Eclipse, Android Studio, Notepad++, Netbeans.
Having a degree in Computer Science enabled me to deeply learn most of the things regarding programming, and i believe that my understanding of problem solving and complex algorithms are also skills that have and will continue to contribute to my overall success as a developer.
I’ve worked on countless freelance projects and have been involved with a handful of notable startups. Also while freelancing I was involved in doing other IT tasks requiring the use of computers from working with data, content creation and transcription.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Question Posted:
Students also viewed these Accounting questions
-
What is the going concern assumption?
-
One of the underlying assumptions of the accounting model is the going concern assumption. When this assumption is questionable, valuation methods used for assets and liabilities may differ from...
-
One of the underlying assumptions of the accounting model is the going concern assumption. When this assumption is questionable, valuation methods used for assets and liabilities may differ from...
-
Jason is unhappy with the performance of his mutual fund. He sells his shares in the current fund and repurchases shares in a similar fund with the same firm. This transaction may not be a taxable...
-
The CR-V campaign in Iceland has been receiving effectiveness awards for years. Why do you think that is so? What are the strengths of its marketing communication approach? What might you suggest to...
-
The following table shows the time of useful consciousness at various altitudes in the situation where a pressurized airplane suddenly loses pressure. The change in pressure drastically reduces...
-
Consider the methanol oxidation data in Table B.20. Perform a thorough analysis of these data. What conclusions do you draw from this analysis? x x2 X3 X4 y 0 454 8.8 3.90 1.30 1.1 0 474 8.2 3.68...
-
Tappan, Inc., manufactures one product and accounts for costs using a job cost system. You have obtained the following information from the corporations books and records for the year ended December...
-
Osprey Co. prepared a master budget for 2021 reflecting indirect material costs of $163,842 based on annual production of 127,179 widgets (the annual production is spread out equally over the twelve...
-
Examine the Patient Medication Form for the Well meadows Hospital case study shown in Figure 14.18. (a) Identify the functional dependencies represented by the data shown in the form in Figure 14.18....
-
What is the basic accounting equation? Briefly define the three primary elements in the equation.
-
When do accountants consider revenue to be realized? What basic question about recording revenue in accounting records is answered by the realization principle?
-
For a visitor, why would a supermassive black hole be safer than a small one?
-
How does the concept of epistemic justice contribute to the empowerment of historically marginalized knowledge systems and ways of knowing, and what strategies can be employed to challenge epistemic...
-
I understand that some of you must deal with rude and condescending interactions at your workplace or elsewhere. Please note and observe the humility, patience and self-control demonstrated in this...
-
In "Taking Sides: Clashing Views in Science, Technology and Society," edited by Thomas A. Easton, these two articles (Population Articles #1 and #2, above) were paired around the question, "Do...
-
What kind of appraisal reports are typically used for income-generating properties?
-
Phrasing Persuasive Claims Take each of the following topics and give an example of a claim of fact, value AND policy. Justin Bieber Movies Auburn Sports Shaved Ice Wal-Mart Recycling Chicken Finger...
-
In Problem find each indefinite integral. (Check by differentiation.) dx 4x3
-
All of the following assets can be depreciated, except: (a) A bulldozer (b) A copper mine (c) A surgical robot (d) A conveyor belt
-
The partnership of Avery and Kirk was formed on July 1, when George Avery and Dinah Kirk agreed to invest equal amounts and to share profits and losses equally. The investment by Avery consists of...
-
The partnership of Avery and Kirk was formed on July 1, when George Avery and Dinah Kirk agreed to invest equal amounts and to share profits and losses equally. The investment by Avery consists of...
-
A comedy club called Comedy Today was organized as a partnership with Abbott investing $80,000 and Martin investing $120,000. During the first year, net income amounted to $110,000. Instructions a....
-
Develop a 3-year financial projection for your proposed cancer tele-genetics program . State any and all assumptions you make in creating your estimates. Please consider the following in creating...
-
Lets assume that we have project L, which has a 40% chance of turning out good. The company Raises $7,000, 50% from bondholders demanding a 6% interest rate and 50% from stockholders, which becomes...
-
Please assist in the filling out the above and below table. I have provided all information that has been provided to me. Company Shares Outstanding Latest Share Price MVE Total Debt W d W e a b c =...
Study smarter with the SolutionInn App