Question

Accordindg to going concern concept, a business is veiwed as having

Answer 1

Answer:

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Explanation:

A going concern is a business that is assumed will meet its financial obligations when they fall due. ... Hence, a declaration of going concern means that the business has neither the intention nor the need to liquidate or to materially curtail the scale of its operations.

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Answer 2

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According to the going concern concept, a business entity is assumed to have a long life. Going concern is basic accounting assumption, the assumption is that a company or the entity will be able to continue operating for a period of time that is sufficient to carry out commitments, obligations, objectives and so on.

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