explain going concern and accurse in accounts
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The going concern concept of accounting implies that the business entity will continue its operations in the future and will not liquidate or be forced to discontinue operations due to any reason. ... Another example of the going concern assumption is the prepayment and accrual of expenses.
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Answer:
The going concern concept of accounting implies that the business entity will continue its operations in the future and will not liquidate or be forced to discontinue operations due to any reason. ... Another example of the going concern assumption is the prepayment and accrual of expenses
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