explain going concern concept
Answers
Answered by
3
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.
Answered by
4
Answer:
Going Concern Concept: Going concern concept says that a firm will take on its business for an unlimited period of time and would not be converted into cash at any pre-decided timeframe.
Explanation:
For further points refer NCERT,
Similar questions