Going concern concept explain.
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The going concern concept is a fundamental principle of accounting. It assumes that during and beyond the next fiscal period a company will complete its current plans, use its existing assets and continue to meet its financial obligations. ... This underlying principle is also known as the continuing concern concept.
kalpanasarawag:
it means a businesses
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It means that business will continue to exist for a long time in the future and there is no intention to close it or reduce its size significantly.
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