*A CONCEPT THAT A BUSINESS ENTERPRISE WILL NOT BE SOLD OR LIQUIDATED IN NEAR FUTURE IS KNOWN AS .................................CONCEPT
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Going concern principle - What is the going concern principle? The going concern principle is the assumption that a business will continue to exist in the near future, in other words, that it will not liquidate or be forced out of business.
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The concept of going concern assumes that a business firm would continue to carry out its operations indefinitely, i.e. for a fairly long period of time and would not be liquidated in the foreseeable future.
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