Q7. Which concept (principle) assumes that a business enterprise will not be liquidated in the near future ? Explain the concept ?
Answers
going concern concept is also know as continuty assumption
it is assumed that the enterprise is normally continuing in for the foreseeble future
Dissolution assumes that a business enterprise will not be liquidated in the near future.
Explanation:
In law, disintegration has numerous implications.
Dissolution is the last phase of liquidation, the procedure by which an organization or some portion of an organization is finished, and the benefits and property of the organization redistributed.
Disintegration of an organization is the first of two phases in the end of an association. ""Twisting up"" is the subsequent stage. Dissolution may likewise allude to the end of an agreement or other legitimate relationship; for instance, a separation is the disintegration of a marriage.
Dissolution is additionally the term for the lawful procedure by which a selection is turned around. While this applies to most by far of appropriations which are ended, they are all the more ordinarily alluded to as interruptions, despite the fact that that term actually applies just to those that are not lawfully finish at the hour of end.
In worldwide law, disintegration is the point at which a state has separated into a few elements, and never again has control over those substances, as it used to have beforehand. A case of this is the situation of the previous USSR dissolving into various republics.
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